UPDATE: Dick's Sporting Goods Reports 43% Surge In Q2 Net Income, Lifts Forecast

Dick's Sporting Goods Inc DKS reported a 43% rise in its net income for the second quarter. Dick's reported its quarterly earnings at $73.8 million, or $0.59 per share, up from $51.5 million, or $0.43 per share, in the year-ago period. Excluding one-time gain, Dick's earnings came in at $0.52 per share. Its revenue climbed 7% y/y to $1.31 billion from $1.23 billion. However, analysts were expecting earnings of $0.50 per share on revenue of $1.32 billion. Dick's revenue from stores open at least a year surged 2.5%. Dick's now expects adjusted earnings between $1.94 and $1.96 per share for the fiscal year, up from its earlier forecast of $1.91 to $1.93 per share. Analysts expected earnings of $1.94 per share. Dick's shares dropped 3.86% to $31.65 in pre-market trading.