PHILADELPHIA (AP) — PHILADELPHIA (AP) — Urban Outfitters Inc. (URBN) on Tuesday reported fiscal first-quarter net income of $61.8 million.
The Philadelphia-based company said it had net income of 65 cents per share. Earnings, adjusted for asset impairment costs, came to 69 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.
The clothing and accessories retailer posted revenue of $1.2 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $1.17 billion.
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