Michael Kors (KORS) Surges 18% Amid Q3 Beat, Solid Outlook

Michael Kors (NYSE: KORS) is surging 18.5% in pre-open trade Tuesday following better than expected Q3 results and solid guidance.

Michael Kors reported Q3 EPS of $1.59, $0.13 better than the analyst estimate of $1.46. Revenue for the quarter came in at $1.34 billion versus the consensus estimate of $1.36 billion.

GUIDANCE:

Michael Kors sees Q4 2016 EPS of $0.93-$0.97, versus the consensus of $1.00. Michael Kors sees Q4 2016 revenue of $1.13-1.15 billion, versus the consensus of $1.16 billion.

Michael Kors sees FY2016 EPS of $4.38-$4.42, versus the consensus of $4.33. Michael Kors sees FY2016 revenue of $4.65 billion, versus the consensus of $4.63 billion.

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