Deckers Outdoor Corporation (DECK) saw its stock plummet by 14.9% in after-hours trading on Thursday, despite reporting better-than-expected third quarter financial results and raising its full-year guidance.

The footwear company posted record quarterly revenue of $1.83 billion, up 17.1% year-over-year, beating analyst estimates of $1.73 billion. Adjusted earnings per share came in at $3.00, surpassing the consensus forecast of $2.56. The strong performance was driven by continued momentum in Deckers' iconic UGG and HOKA brands.

However, the company's updated full-year outlook seemed to disappoint investors. For fiscal 2025, Deckers raised its revenue growth guidance to approximately 15%, up from its previous forecast but potentially lower than what the market was anticipating. Additionally, the company lifted its full-year earnings per share guidance to a range of $5.75 to $5.80, which might have fallen short of investor expectations for a more substantial increase.