PHILADELPHIA (AP) _ Urban Outfitters Inc. (URBN) on Tuesday reported fiscal second-quarter earnings of $60.3 million.
On a per-share basis, the Philadelphia-based company said it had net income of 61 cents.
The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.
The clothing and accessories retailer posted revenue of $962.3 million in the period, which missed Street forecasts. Eleven analysts surveyed by Zacks expected $985.1 million.
Urban Outfitters shares have dropped 37% since the beginning of the year, while the Standard & Poor's 500 index has climbed 16%. In the final minutes of trading on Tuesday, shares hit $20.93, a drop of 56% in the last 12 months.