Bed Bath & Beyond earnings for its fiscal third quarter of 2018 has BBBY stock surging today.
Bed Bath & Beyond (NASDAQ:BBBY) reported earnings per share of 18 cents for its fiscal third quarter of 2018. This is down from its earnings per share of 44 cents from the same time last year. However, it was good news for BBBY stock by beating out Wall Street’s earnings per share estimate of 17 cents for the quarter.
Net income reported in the most recent Bed Bath & Beyond earnings report came in at $24.35 million. This is a drop from the company’s net income of $61.30 million reported in its fiscal third quarter of 2017.
The Bed Bath & Beyond earnings report for its fiscal third quarter of the year also includes operating income of $49.51 million. The company’s operating income from the same period of the year prior was $108.36 million.
Bed Bath & Beyond earnings for its fiscal third quarter of 2018 also includes revenue of $3.03 billion. This is an increase over the company’s revenue of $2.95 billion that was reported in its fiscal third quarter of the previous year. Despite this, it still comes in just below analysts’ revenue estimate of $3.04 billion for the period, but that couldn’t keep BBBY stock down today.
Bed Bath & Beyond also provides an update to its outlook for fiscal 2018 in its most recent earnings report. The company is now expecting earnings per share for the year to be $2.00. If this holds true, it will have the company just beating out Wall Street’s earnings per share estimate of $1.99 for the period.
BBBY stock was up 13% as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.