Urban Outfitters Stock Jumps 10% On Q1 Results

Shares of Urban Outfitters, Inc. (URBN) are gaining over 10% on Wednesday morning after the company reported its first-quarter results.

URBN is currently trading at $19.86, up $1.87 or 10.41%, on the Nasdaq. The stock opened its trading at $17.95 after closing Tuesday's trading at $17.99. The stock has traded between $17.81 and $42.10 in the past 52 week period.

Urban Outfitters reported first-quarter profit of $31.53 million or $0.33 per share, up from $53.55 million or $0.54 per share last year. The company's revenue for the quarter rose 12.9% to $1.05 billion from $927.4 million last year.

Analysts polled by Thomson Reuters had expected earnings of $0.42 per share. Analysts' estimates typically exclude special items.

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