Urban Outfitters Inc. Profit Drops 35% In Q2

(RTTNews) - Urban Outfitters Inc. (URBN) announced earnings for second quarter that decreased compared to the same period last year.

The company said its bottom line dropped to $49.91 million, or $0.44 per share. This was down from $76.91 million, or $0.66 per share, in last year's second quarter.

Analysts had expected the company to earn $0.37 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 2.0% to $872.93 million. This was down from $890.57 million last year.

Urban Outfitters Inc. earnings at a glance:

-Earnings (Q2): $49.91 Mln. vs. $76.91 Mln. last year. -Earnings Decline (Y-o-Y): -35.1% -EPS (Q2): $0.44 vs. $0.66 last year. -EPS Decline (Y-o-Y): -33.3% -Analysts Estimate: $0.37 -Revenue (Q2): $872.93 Mln vs. $890.57 Mln last year. -Revenue Change (Y-o-Y): -2.0%