PHILADELPHIA (AP) — PHILADELPHIA (AP) — Five Below Inc. (FIVE) on Wednesday reported fiscal first-quarter net income of $41.1 million.

The Philadelphia-based company said it had profit of 75 cents per share. Earnings, adjusted for non-recurring costs and asset impairment costs, were 86 cents per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share.

The discount retailer posted revenue of $970.5 million in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $967.6 million.

For the current quarter ending in July, Five Below expects its per-share earnings to range from 50 cents to 62 cents.

The company said it expects revenue in the range of $975 million to $995 million for the fiscal second quarter.

Five Below expects full-year earnings in the range of $4.25 to $4.72 per share, with revenue ranging from $4.33 billion to $4.42 billion.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FIVE at https://www.zacks.com/ap/FIVE

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