Crocs Runs Ahead On Upbeat Outlook
Crocs is spiking, as it swings to a profit and provides positive third-quarter guidance.
NEW YORK (
) --
Crocs
(CROX) - Get Report
is surging, as it swings into profit in its second quarter and it foresees a strong second-half.
During the quarter, the footwear maker earned $32.3 million, or 37 cents a share, compared with a loss of $30.3 million, or 36 cents a share, a year ago. Analysts were calling for a profit of 22 cents a share.
Revenue advanced 31% to $228 million, topping Wall Street's forecast of $220.6 million.
Looking ahead, Crocs expects third-quarter earnings in the range of 22 cents to 24 cents a share, with revenue growing 24% to $205 million.
Shares of Crocs are spiking 9.9% to $13.83 in after-market trading.
-- Reported by Jeanine Poggi in New York.
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