Shoe maker Crocs Inc posted a quarterly profit that edged past market estimates helped by higher sales in Asia and warned that weakness in its European markets would continue into the holiday quarter.

Photo: Crocs

The challenging macroeconomic conditions in Europe has curtailed consumer spending in the region.

The company, known for its colorful clogs, expects earnings of 3-5 cents a share in the fourth quarter, while analysts were expecting 5 cents a share, according to Thomson Reuters I/B/E/S.

Net income for the quarter increased to $30.2 million, or 33 cents a share, compared with $25 million, or 28 cents a share , a year ago.

Revenue rose 27.5 percent to $274.9 million .

Analysts on an average expected the company to earn 32 cents a share on revenue of $274.3 million, according to Thomson Reuters I/B/E/S.

The beat comes after the company cut its outlook for the first time in three years on softening sales at its stores, amid a weakening European retail environment.

Rivals Wolverine Worldwide Inc and Skechers USA Inc also posted third-quarter profits that beat estimates.

Shares of the company closed at $17.00 on Thursday on Nasdaq.