Shares of Urban Outfitters (NASDAQ: URBN) were up 6.8% as of 3:15 p.m. EDT Wednesday after the lifestyle retailer announced better-than-expected second-quarter earnings and encouraging forward guidance.
On one hand, Urban Outfitters' quarterly revenue fell 3% year over year, to $962 million, well below consensus estimates for roughly $980.6 million. But while earnings declined to $60 million, or $0.61 per share (from $0.84 per share a year ago), that was still comfortably ahead of the $0.58 per share most analysts were modeling.
IMAGE SOURCE: URBAN OUTFITTERS.