Crocs Inc. reported second-quarter results that surpassed analyst expectations but swung to a loss after recording sizeable asset-impairment charges. Revenue climbed 3.4% from a year earlier to $1.15 billion, exceeding the $1.14 billion consensus. Adjusted earnings per share rose 5.5% to $4.23, ahead of the $4.02 estimate. Direct-to-consumer sales increased 4.0% and wholesale revenue gained 2.8%, while revenue at the acquired Heydude brand fell. The impairments left the company with a $428 million net loss for the quarter. Citing “evolving global trade policy” and consumer caution amid higher tariffs, management withdrew its full-year outlook and said it will issue guidance only one quarter at a time. For the third quarter, the company expects revenue to decline 9% to 11% from a year earlier, versus market projections for roughly flat sales. The muted outlook overshadowed the earnings beat, sending Crocs shares down as much as 18% in pre-market New York trading on Thursday.