Levi Strauss & Co. unveiled on Wednesday in a press release that its net revenue for the third quarter of its fiscal 2024 amounted to $1.5 billion, unchanged from the same timeframe a year ago.

In the three months ending August 25, the net income skyrocketed by 116% year-over-year to stand at $21 million. Diluted earnings per share (EPS) came in at $0.05, rising from EPS of $0.02 reported in the third quarter a year prior.

"Looking to Q4 and beyond, we will amplify our focus on the Levi’s® brand, exemplified by our new campaign with Beyoncé and an innovative product pipeline designed to build momentum with our fans around the world," President and CEO Michelle Gass commented. The company's shares plummeted 8.83% in the after-hours trade, following the release of the report.