Under Armour's revenue beats the Street
- Under Armour revenue topped Wall Street estimates.
- The athletic-apparel maker posted a fourth-quarter loss of $87.9 million because of a one-time charge due to the new tax law.
(Reuters) - Under Armour Inc on Tuesday reported quarterly revenue that beat analysts' estimates, as it sold more footwear and apparel through its own stores and online.
The company reported fourth-quarter loss of $87.9 million, or 20 cents per Class C share, in the quarter ended Dec. 31, compared with a profit of $103.2 million, or 23 cents per share, a year earlier, as it incurred a one-time charge due to changes in the U.S. tax code.Net revenue rose to $1.37 billion from $1.31 billion, beating analysts' estimate of $1.31 billion, according to Thomson Reuters I/B/E/S.
(Reporting by Nivedita Balu in Bengaluru; Editing by Shounak Dasgupta)