Under Armour's revenue beats the Street
Thearon W. Henderson/Getty
- 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)
- I got a $40K raise using this 30-second strategy. It made me realize loud work, not hard work, always wins.
- Qatar Airways' new CEO explains why it's sticking with the Airbus A380 as other airlines retire the costly superjumbo
- Prince Harry and Meghan found out about Kate Middleton's cancer diagnosis on TV like everyone else, report says
- Consuming excessive salt and inadequate potassium, protein is making North Indians prone to life-threatening diseases: Study
- Upcoming cars and two-wheelers launching in India in April 2024
- Ice melt in Antarctica and Greenland is slowing Earth's rotation, affecting timekeeping: Study
- Elections on a plate: Poll panels fix menu & expense ceiling for Samosa, tea, biryani & more
- Regenerative farming, cover crops will help farmers increase yields, reduce stubble burning: IDH CEO