SBD/Closing Bell

Under Armour Beats Q1 Analyst Expectations With Revenue Up 23%

Under Armour “topped analysts’ estimates” for Q1 results, reporting a 23% “increase in revenue.” Net income for the period did drop 47%, but the company “attributed that to planned marketing expenditures.” UA Founder, President & CEO Kevin Plank “attributed the growth to the Alter Ego line of gear, which revolves around comic book heroes and has sold well to adult men.” Plank added that an “increase in the diversity of fleece offerings and the popularity of a new running shoe technology called Spine also pushed sales” (BALTIMORESUN.com, 4/19).

At presstime, shares of UA were trading at $55.97, up 0.5% from the close yesterday (THE DAILY).
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