Fubotv earnings beat by $0.10, revenue topped estimates
Investing.com -- Ralph Lauren posted better-than-expected first-quarter earnings and raised its full-year margin outlook, citing tighter control over costs and a lift from foreign exchange.
The luxury apparel company reported earnings of $3.52 per share for the quarter ended June 29, ahead of Wall Street’s forecast of $3.45.
Revenue rose 6% to $1.7 billion, topping estimates of $1.65 billion.
Shares rose 3% in light premarket trading.
The company now expects full-year operating margin to expand by 40 to 60 basis points in constant currency, up from its earlier forecast, helped by operating expense leverage. It also sees a 40 basis-point tailwind to operating margin from foreign exchange.
Revenue is projected to rise in the low- to mid-single digits on a constant currency basis for the year. Currency is expected to add 150 to 200 basis points to full-year growth.
For the second quarter, Ralph Lauren (NYSE:RL) expects revenue to grow by high-single digits in constant currency, with a currency boost of up to 150 basis points.
Operating margin is forecast to expand by 120 to 160 basis points, also helped by lower expenses and modest currency benefit.