Capri Holdings Limited (CPRI) stock gained in the current market after the company announced its results for the third quarter of 2022. CPRI values at around $65.87 in the current market, gaining more than 7.14% from the previously closed value. The stock closed at $61.49 at the end of the last trading session. The stock traded in the previous trading session was approximately 1.53 million shares.
Highlights of third-quarter results
- Capri Holdings Limited (CPRI) reported revenue of around $1.6 billion in the third quarter of fiscal 2022. It gains more than 24% from the third quarter of 2021.
- Their gross profit in the 3rd quarter was around $1 billion, while their gross margin was 65.1%.
- The operating income of CPRI in the 3rd quarter was $331 million, with an operating margin of 20.6 percent. Last year in the same quarter, the operating income was $167 million and 12.8%.
- Compared to the prior year, adjusted income from operations was $359 million, and operating margin was 22.3 percent, up from $257 million and 19.7 percent.
- Comparatively, net income for the preceding year was $179 million, or $1.18 per diluted share, while net income for the current year was $322 million, or $2.11 per share.
- Compared to the prior year’s adjusted net income of $250 million, or $1.65 per diluted share, the current year’s adjusted net income was $339 million, or $2.22 per diluted share.
The effect on CPRI stock
CPRI is gaining in the market following its release of financial results in the press release today. Investors are responding positively to the stock and investing heavily in CPRI. Most of the investors prefer to trade in the regular trading session. That is why its stock is roaring in the current market.
Conclusion
The outlook of the company for 2022 seems promising. Capri Holdings Limited (CPRI) expects to increase its revenue across all its brands. It is expecting revenue of $5.56 in 2022.
