Shares of Dicks Sporting Goods (NYSE: DKS) are up more than 7% after the company reported better-than-expected results for its first quarter and upgraded its guidance.

Dick’s Sporting Goods reported earnings per share of $3.79, smashing analysts' expectations of $1.12 per share. The company’s revenue stood at $2.92 billion, up from the expected $2.18 billion, and 116% higher than in the year-ago period.

Net income surged to $361.8 million, or $3.41 per share, for the quarter, compared to the loss of $143.4 million, or $1.71 per share, a year ago. The company’s sales on a two-year basis climbed 52%, while same-store sales jumped 115% from the same period last year, including e-commerce growth of 14%. Digital sales represented 20% of total sales, up from 13% in 2019.

"We are in a great lane right now, and 2021 will be our boldest and most transformational year in the Company's history. We believe the future of retail is experiential, powered by technology and a world-class omni-channel operating model. Importantly, we are reimagining the athlete experience, both across our core business and through new concepts that we have been working on for the past several years, which will collectively propel our growth in the future," said Ed Stack, Executive Chairman and Chief Merchandising Officer.

For the full fiscal year, Dick’s said it estimates adjusted earnings to range between $8.00 and $8.70 per share, with sales of $10.5 billion to $10.8 billion, compared to analysts’ earnings estimates of $5.32 per share, after adjustments, on sales of $9.8 billion.