Ross Stores tops Street 3Q forecasts

Ross Stores on Thursday reported earnings of $192.7 million in its fiscal third quarter.

On a per-share basis, the Dublin, California-based company said it had net income of 93 cents.

The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.

The discount retailer posted revenue of $2.6 billion in the period, also surpassing Street forecasts. Analysts expected $2.55 billion, according to Zacks.

Ross Stores shares have climbed 11 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 11 percent. In the final minutes of trading on Thursday, shares hit $83.19, an increase of slightly more than 2 percent in the last 12 months.

This story was generated by Automated Insights using data from Zacks Investment Research. ROST stock research report from Zacks.