Bed Bath & Beyond Jumps Double Digits After Hours on Earnings Beat

Shares of home goods retailer Bed Bath & Beyond Inc. (BBBY) - Get Report jumped 20% after-hours Wednesday after the company reported fiscal third-quarter earnings of 18 cents per share on revenue of $3 billion . 

Analysts polled by FactSet were expecting the Union, NJ-based company to report earnings of 17 cents per share on revenue of $3.05 billion. 

The company also reported that comparable store sales fell 1.8% year over year, steeper than the 0.3% decline analyst polled by FactSet were expecting.

The stock jumped in spite of the pedestrian results, however, on the company's guidance that its fiscal 2019 net earnings will be about the same as fiscal 2018. The market was expecting a much more bearish outlook for the next fiscal year amid falling revenues and profits.  

The company's stock has been in free fall over the past 12 months, declining more than 42%. 

Separately, the company declared a quarterly dividend of 16 cents per share payable April 16 to shareholders of record on March 15. 

The company repurchased about $8 million of its own stock in the third quarter.