UPDATE: Urban Outfitters Posts Downbeat FQ3 Profit

Urban Outfitters

reported a rise in its fiscal third-quarter profit. Urban Outfitters' quarterly profit climbed to $59.5 million, or $0.40 per share, versus $50.7 million, or $0.33 per share, in the year-earlier period. Its revenue surged to $692.9 million from $609.9 million, while same-store sales dropped 1%. However, analysts were expecting earnings of $0.41 per share on revenue of $693.1 million. Urban Outfitters shares fell 1.13% to $36.65 in after-hours trading.