PHILADELPHIA (AP) _ Urban Outfitters Inc. (URBN) on Tuesday reported fiscal first-quarter net income of $32.6 million.
On a per-share basis, the Philadelphia-based company said it had net income of 31 cents.
The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.
The clothing and accessories retailer posted revenue of $864.4 million in the period, also topping Street forecasts. Eleven analysts surveyed by Zacks expected $857.3 million.
Urban Outfitters shares have dropped 19% since the beginning of the year, while the Standard & Poor's 500 index has increased 14%. In the final minutes of trading on Tuesday, shares hit $27.03, a drop of 36% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on URBN at https://www.zacks.com/ap/URBN