PetSmart Treats Shareholders To Beat-And-Raise Quarter

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Investors mustered little enthusiasm for PetSmart (PETM) after the company reported third quarter earnings, even as top- and bottom-line numbers came in ahead of expectations.

After the close, the company said it earned $56.2 million, or 50 cents a share, up from 38 cents a share* in the year-earlier period. Revenue rose to $1.5 billion from $1.39 billion. Analysts had forecast earnings of 48 cents a share on revenue of $1.49 billion.

PetSmart also boosted its full year earnings guidance to $2.50 to $2.54 a share, up from a previous range of $2.46 to $2.52 a share. The midpoint $2.52 is a penny better than the current consensus.

PetSmart was down 0.1% to $47.60 in recent after hours trading.



Original Article Source by Barrons.com