PITTSBURGH (AP) — PITTSBURGH (AP) — American Eagle Outfitters Inc. (AEO) on Wednesday reported fiscal second-quarter net income of $48.6 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Pittsburgh-based company said it had net income of 25 cents.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.
The teen clothing retailer posted revenue of $1.2 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $1.19 billion.
American Eagle shares have risen 23% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $17.20, an increase of 52% in the last 12 months.