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L Brands: Fiscal 3Q Earnings Snapshot

·1 min read

COLUMBUS, Ohio (AP) _ L Brands Inc. (LB) on Wednesday reported fiscal third-quarter net income of $330.6 million, after reporting a loss in the same period a year earlier.

The Columbus, Ohio-based company said it had net income of $1.17 per share. Earnings, adjusted for one-time gains and costs, were $1.13 per share.

The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.

The owner of Victoria's Secret, Bath & Body Works and other chain stores posted revenue of $3.06 billion in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $2.67 billion.

L Brands shares have climbed 86% since the beginning of the year, while the Standard & Poor's 500 index has risen 10%. In the final minutes of trading on Wednesday, shares hit $33.71, an increase of 89% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LB at https://www.zacks.com/ap/LB