Under Armour's Stock Soars After Results Beat Expectations, Upbeat Outlook

By Markets MarketWatch Pulse

Under Armour Inc.'s stock soared 12% in premarket trade Thursday, after the athletic apparel company beat fourth-quarter profit and revenue expectations and provided an upbeat sales outlook. Earnings for the latest quarter rose to $105.6 million, or 48 cents a share, from $87.7 million, or 40 cents a share, in the same period a year ago. The FactSet consensus for earnings per share was 46 cents. Revenue increased to $1.17 billion from $895.2 million, above the FactSet consensus of $1.12 billion. For 2016, the company expects revenue of $4.95 billion, compared with the FactSet consensus of $4.91 billion. The stock has plunged 29% over the past three months through Wednesday, while the S&P 500 has lost 9.9%.

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