UPDATE: Dillard's Reports 57% Rise In Q1 Profit; Shares Surge In Pre-Market Trading

Dillard's Inc DDS released its results for the first quarter on Friday. The retailer's quarterly net income surged to $76.7 million, or $1.31 per share, from $48.8 million, or $0.68 per share, in the year-earlier period. The number of shares outstanding dropped to 58.5 million from 72.3 million. The retailer's sales rose to $1.47 billion, from $1.45 billion. However, analysts were expecting earnings of $56 million on sales of $1.46 billion. DDS shares surged 5.99% to $51.50 in pre-market trading. Read more from Benzinga's Company news.