Ralph Lauren Stock Climbs After Beating Third-Quarter Sales and Earnings Targets
Ralph Lauren (NYSE: RL) reported third-quarter earnings before the market opened on Tuesday, delivering sales-and-earnings performance that topped the market's expectations.
Revenue climbed 1% year-over-year to reach $1.75 billion, and earnings-per-diluted share came in at $4.41 -- jumping roughly 198% year-over-year thanks largely to a change in tax structure. Non-GAAP (adjusted) earnings per share climbed roughly 23% year over year to reach $2.86.
The average analyst estimate, as polled by FactSet, had called for adjusted earnings per share of $2.45 on revenue of $1.72 billion. The solid sales and earnings beat lifted Ralph Lauren stock following the publication of the third-quarter results, and shares are up roughly 10% on the day as of this writing.
Source Fool.com
