Werbung
Deutsche Märkte geschlossen
  • DAX

    18.492,49
    +15,40 (+0,08%)
     
  • Euro Stoxx 50

    5.083,42
    +1,68 (+0,03%)
     
  • Dow Jones 30

    39.807,37
    +47,29 (+0,12%)
     
  • Gold

    2.254,80
    +16,40 (+0,73%)
     
  • EUR/USD

    1,0778
    -0,0015 (-0,14%)
     
  • Bitcoin EUR

    65.240,93
    +521,55 (+0,81%)
     
  • CMC Crypto 200

    885,54
    0,00 (0,00%)
     
  • Öl (Brent)

    83,11
    -0,06 (-0,07%)
     
  • MDAX

    27.043,04
    -48,91 (-0,18%)
     
  • TecDAX

    3.454,38
    -2,98 (-0,09%)
     
  • SDAX

    14.294,62
    -115,51 (-0,80%)
     
  • Nikkei 225

    40.368,27
    +200,20 (+0,50%)
     
  • FTSE 100

    7.952,62
    +20,64 (+0,26%)
     
  • CAC 40

    8.205,81
    +1,00 (+0,01%)
     
  • Nasdaq Compositive

    16.379,46
    -20,06 (-0,12%)
     

Under Armour beats on revenue and talks up Jordan Spieth, but its forecast missed expectations and now the stock is tumbling

Jordan Spieth
Jordan Spieth

(Phil Noble/Reuters)

Under Armour just reported first-quarter earnings per share that matched estimates and revenue that beat expectations, while also raising its revenue outlook and talking up Masters winner Jordan Spieth.

After the news, however, shares of the company were down about 4.5% in late morning trade after its revenue outlook came in shy of expectations.

In the first quarter, the athletic footwear and apparel company reported earnings per share of $0.05, matching expectations, on revenue of $805 million, beating Wall Street's expectations for revenue of $802.5 million, according to estimates from Yahoo Finance.

WERBUNG

The company's outlook, however, disappointed, with Under Armour raising its full-year revenue outlook to $3.78 billion from $3.76 billion, shy of expectations for revenue of $3.82 billion.

The company also spent time in its press release talking up Spieth, its 21-year-old golf star who earlier this month won the prestigious Masters golf tournament while tying the course record.

In its earnings release, Under Armour CEO Kevin Plank said: "We are incredibly proud that Under Armour athlete Jordan Spieth captured the Green Jacket in record-setting fashion at The Masters last week. At just 21, Jordan is already firmly entrenched on the global sports stage and we look to support Jordan throughout his career winning major championships as he adds to his legacy."

Last week, we noted that analysts at Piper Jaffray raised their price target on shares of Under Armour to $93 from $90 after Spieth's win. Shares were trading near $84.50 on Tuesday morning.

NOW WATCH: 9 Surprising Facts About Under Armour — The Hottest Sportswear Company In The World



More From Business Insider