Bed Bath & Beyond Jumping On Earnings Beat, Guidance Raise

Bed Bath & Beyond BBBY shares are moving higher in after-hours after the company reported blowout first quarter earnings, and sharply raised its outlook for the rest of the year. The company reported quarterly earnings of 72 cents per share on $2.11 billion in revenues. Wall Street had been expecting earnings of 63 cents per share on $2.08 billion in revenues. In addition, the company raised its fiscal year EPS outlook. It now expects EPS to be up 15-20%, as opposed to 10-15%. At last check, shares were trading at $55.99, a gain of 3.57% in after-hours.