Urban Outfitters Reports Record Sales For Q3, Stock Moves Down After Hours
Portfolio Pulse from Ryan Gustafson
Urban Outfitters, Inc. (NASDAQ:URBN) reported Q3 earnings of 88 cents per share, beating estimates of 82 cents and marking a 120% increase from the previous year. Sales reached a record $1.28 billion, surpassing expectations of $1.26 billion and growing 8.94% year-over-year. Despite the positive results, URBN shares dropped 7.05% in after-hours trading to $33.75.
November 21, 2023 | 11:37 pm
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Urban Outfitters reported strong Q3 earnings and record sales, but shares fell 7.05% after hours despite the positive performance.
Urban Outfitters' stock price decline after hours, despite surpassing earnings and sales estimates, could be due to investors' concerns about future growth prospects or broader market conditions. The after-hours movement suggests a negative short-term impact on the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100