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Hanesbrands (HBI) Stock Soaring in After-Hours Trading on Earnings Beat

NEW YORK (TheStreet) -- Shares of Hanesbrands (HBI - Get Report) are rising by 12.32% to $31 in after-hours trading on Wednesday, following the release of the apparel company's 2015 third quarter financial results, which highlighted better than expected earnings and revenue.

The company posted adjusted earnings of 50 cents per share, a 16% increase when compared to the same period last year. Analysts had forecast for earnings of 45 cents per share for the most recent quarter.

Net sales for the third quarter gained 14% to $1.59 billion versus the $1.57 billion analysts...