Shares of Abercrombie & Fitch soared 18% in premarket buying and selling Wednesday after the mall retailer beat estimates, raised its steerage and reported a surprise profit. 

Here’s how Abercrombie did in its fiscal first quarter in contrast with what Wall Street was anticipating, primarily based on a survey of analysts by Refinitiv:

• Earnings per share: 39 cents, adjusted, vs. a lack of 5 cents anticipated
• Revenue: $836 million vs. $815 million anticipated

The firm’s reported internet earnings for the three-month interval that ended April 29 was $16.57 million, or 32 cents a share, in contrast with a lack of $16.46 million, or 32 cents a share, a yr earlier. Excluding one-time objects, Abercrombie reported per-share profit of 39 cents within the quarter.

Sales rose to $836 million from $812.8 million a yr earlier.

Same-store gross sales have been up 3% within the quarter, versus Street Account estimates of a 1% decline.

The attire retailer raised its steerage following the earnings beat. For fiscal 2023, it now expects internet gross sales to develop between 2% and 4%, in comparison with a earlier vary of 1% to three%. It now expects its working margin to be within the vary of 5% to six%, in comparison with its earlier outlook of 4% to five%.

For the fiscal second quarter, the corporate expects internet gross sales to develop 4% to six% and an working margin within the vary of two% to three%.