Investing.com -- Victoria’s Secret shares slumped more than 16% in premarket trading Thursday after the company issued a soft third-quarter operating income outlook, overshadowing a second-quarter earnings beat and raised full-year revenue guidance.

The company reported second-quarter earnings per share of $0.95, beating the analyst estimate of $0.75. Revenue rose 10% year-over-year to $1.61 billion, roughly in line with the $1.62 billion consensus estimate.

Adjusted operating income for the quarter came in at $124 million, up from $55 million in the year-ago quarter.

For the third quarter, Victoria’s Secret guided to revenue of $1.57 billion to $1.6 billion, above the $1.56 billion consensus estimate.

However, the company’s third-quarter operating income outlook came in well below expectations, with the midpoint of its guidance at $15 million, compared with a Street estimate of $24.4 million. The light outlook comes amid the group’s plans to increase strategic marketing investment.

“We see significant opportunity ahead and are doubling down on what is working," said CEO Hillary Super. "We are increasing our strategic marketing investment to expand our reach, deepen customer connection, and build on the brand heat we are creating."

Victoria’s Secret raised its full-year 2026 revenue guidance to $7.1 billion to $7.18 billion, up from a previous range of $7.03 billion to $7.13 billion, and roughly in line with the $7.14 billion consensus.

The company also lifted its 2026 adjusted operating income guidance to a range of $560 million to $590 million, up from a previous range of $550 million to $580 million.