RadioShack Tops Views, Shares Jump
RadioShack beat both profit and revenue forecasts, sending shares higher in after-hours trading.
NEW YORK (
) --
RadioShack
(RSH)
beat both profit and revenue forecasts, sending shares higher in after-hours trading.
During the quarter, the electronics retailer earned $50.1 million, or 39 cents a share, compared with $43.1 million, or 34 cents, in the year-ago period. Analysts were calling for a profit of 36 cents a share.
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Sales rose 4% to $1.04 billion from $1 billion, while same-store sales jumped 4.7%. Analysts predicted revenue of $1 billion.
RadioShack said it saw strength in sales of accessories and power product platforms.
Shares are gaining 2.8% to $23.54 in extended trading.
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-- Reported by Jeanine Poggi in New York.
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