NEW YORK (TheStreet) -- Michael Kors (KORS) shares shot up 18.7% to $90.98 on Tuesday after the luxury accessories and handbag maker showed the world that consumers were certainly buying its merchandise over the holiday period.
The Hong Kong-based company said that revenue surged 59% to $1 billion in the December-ended quarter (its third fiscal quarter) from $636.8 million in the year-earlier quarter. Comparable-store sales jumped 27.8% in the quarter.
Michael Kors' reported net income rose 76% to $229.6 million, or $1.11 a share, from a year earlier.
Analysts, according to Thomson Reuters, expected the company to post revenue of $859.9 million and earnings of 86 cents a share.
WATCH: Michael Kors Proves It is the Must-Have Handbag for the Holidays
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