Reebok

(RBK)

beat Wall Street's earnings estimates for the third quarter, but said sales were hurt by the effects of the weakening euro and British pound.

The maker of athletic shoes and apparel reported third-quarter net income of $32.3 million, or 56 cents a share, compared with $27.6 million, or 49 cents a share, in the year-ago quarter. Analysts were expecting the company to earn 52 cents a share for the quarter, according to

I/B/E/S

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.

Sales for the quarter fell to $787.8 million from $793.9 million a year ago.

Shares of Reebok were recently trading up $2.81, or 17.3%, to $19.06 on the

New York Stock Exchange

.