UPDATE: Dick's Sporting Goods Posts Upbeat Q3 Profit

Dick's Sporting Goods

reported a rise in its third-quarter profit. Dick's quarterly profit surged to $50.1 million, or $0.40 per share, versus $41.5 million, or $0.33 per share, in the year-earlier period. Its sales rose 11% to $1.31 billion from $1.18 billion. However, analysts were expecting earnings of $0.37 per share on sales of $1.3 billion. Dick's projects adjusted 2012 profit of $2.53 to $2.55 per share, versus its prior forecast of $2.47 to $2.51 per share. However, analysts were expecting 2012 earnings of $2.54 per share. Dick's shares surged 4.60% to $50.94 in pre-market trading.