Michael Kors Holdings Limited (KORS - Free Report), a global luxury lifestyle company, came out with second-quarter fiscal 2018 results, wherein earnings of $1.33 per share beat the Zacks Consensus Estimate of 83 cents and also rose nearly 37% from the prior-year quarter.

Management now projects third-quarter earnings in the range of $1.22-$1.27 per share and fiscal 2018 earnings in the band of $3.85-$3.95 per share. The earnings guidance for 2018 is up from the previous range of $3.62-$3.72 per share. The Zacks Consensus Estimate for the third quarter and fiscal year are pegged at $1.50 and $3.74, respectively.

Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2018 has witnessed an uptrend in the last 30 days. In the trailing four quarters, excluding the quarter under review, the company has outperformed the Zacks Consensus Estimate by an average of 11.5%.

Revenues: Michael Kors generated total revenue of $1,146.6 million that increased 5.4% year over year and also came ahead of the Zacks Consensus Estimate of $1,046 million. Management now forecasts third-quarter total revenue to be between $1.355 billion and $1.385 billion and expects fiscal 2018 revenue to be roughly $4.59 billion. Earlier, it projected fiscal 2018 revenue to be about $4.275 billion.

Zacks Rank: Currently, Michael Kors carries a Zacks Rank #3 (Hold), which is subject to change following the earnings announcement.

Stock Movement: Michael Kors’ shares are up nearly 2.9% during the pre-market trading hours following the earnings release.