- Quiksillver (NYSE:ZQK) trades higher after beating estimates on both lines of its FQ1 report.
- Revenue slipped in all three of the company's geographic regions as a higher level of discounting and F/X played a role.
- Gross margin rate -110 bps to 49.7%.
- E-commerce revenue +20% Y/Y on a constant currency basis.
- Guidance: Quiksilver expects FQ2 revenue of $340M. Gross margin rate seen at 48.0%.
- Previously: Quiksilver beats by $0.03, beats on revenue
- ZQK +6.5% after hours.