Skechers stock jumps on earnings beat, outlook

Skechers stock jumps on earnings beat, outlook

Skechers USA Inc. SKX, -2.14% shares rallied in the extended session Thursday after the shoe maker’s earnings and outlook topped Wall Street estimates. Skechers shares rose 7% after hours, following a 2.1% decline to close the regular session at $26.12. The company reported third-quarter net income of $90.7 million, or 58 cents a share, compared with $92.3 million, or 59 cents a share, in the year-ago period. Revenue rose to $1.18 billion from $1.09 billion in the year-ago period. Analysts surveyed by FactSet had estimated 51 cents a share on revenue of $1.22 billion. For the fourth quarter, Skechers estimates earnings of 20 cents to 25 cents a share on revenue of $1.1 billion to $1.13 billion. Analysts expect earnings of 17 cents a share on revenue of $1.08 million.

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