Photo by Mike Mozart/Wikimedia.

Dick's Sporting Goods (DKS) reported quarterly earnings of 61 cents per share, which beat the analyst consensus estimate of 58 cents. This is a 3.39 percent increase over earnings of 59 cents per share from the same period last year.

Dick's Sporting Goods reported quarterly sales of $1.92 billion, which beat the analyst consensus estimate of $1.9 billion. This is a 0.52 percent increase over sales of $1.91 billion the same period last year.

The retailer raised 2019 EPS guidance from $3.15-$3.35 to $3.20-$3.40.

"We were pleased with our start to 2019, delivering higher merchandise margins and first quarter earnings per diluted share above last year. Same-store sales turned positive in March and remained positive in April, as we started to see the benefits of our key strategies and investments," said CEO Edward Stack in a press release. "We are very enthusiastic about our business and are pleased to increase our full-year earnings outlook."

Dick's Sporting Goods shares were trading higher by 3.1 percent at $36.90 Wednesday morning.