UPDATE: American Eagle Reports Downbeat FQ2 Profit

American Eagle Outfitters Inc AEO reported a strong rise in its fiscal second-quarter profit. American Eagle's quarterly profit surged to $19.7 million, or $0.10 per share, from $9.7 million, or $0.05 per share, in the year-ago period. Its earnings from continuing operations came in at $0.10 per share. American Eagle's sales climbed 3.7% to $675.7 million. However, analysts were expecting earnings of $0.11 per share on sales of $652 million. American Eagle projects Q3 earnings to be in the range of $0.22 to $0.27 per share, versus analysts' estimates of $0.26 per share. American Eagle shares dropped 2.32% to $11.35 in pre-market trading.