Why Shares of Aaron's Are Trading 11% Higher Friday

Why Shares of Aaron's Are Trading 11% Higher Friday

Shares of Aaron's, Inc. (NYSE: AAN), a lease-purchase retailer of furniture, consumer electronics, appliances, and household accessories, are trading 11% higher as of 10:50 a.m. EDT, after the company's second-quarter results topped estimates.

Revenue jumped to $815.6 million, a comfortable increase from the prior year's $789.4 million, and well above analysts' estimates calling for $790.39 million. That top-line beat filtered down to the company's bottom line, with adjusted earnings increasing to $48.5 million, or $0.68 per share, which was well above consensus estimates calling for $0.58 per share.

"We're very pleased with our second quarter results," said CEO John Robinson in a press release. He continued:

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Source: Fool.com