Under Armour revenue beats estimates, shares jump

Earnings Reuters

FILE - In this Monday, Jan. 4, 2016, file photo, an Under Armour chest strap heart rate monitor is displayed in New York. Under Armour reported Tuesday, Oct. 25, 2016, that quarterly revenue growth was the slowest in six years and it trimmed growth ... projections. (AP Photo/Mark Lennihan, File) (Copyright 2016 The Associated Press. All rights reserved.)

Feb 13 (Reuters) - Under Armour Inc beat analysts' estimates for fourth-quarter revenue on Tuesday, as it sold more footwear and apparel through its own stores and online.

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The Baltimore-based company's Class C shares were trading nearly 11 percent higher in premarket trading.

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The company reported a 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.

The reported quarter included a one-time charge of $39 million due to changes in the U.S. tax code.

The sportswear maker, that competes with Nike Inc and Adidas AG, said it would incur additional restructuring charges between $110 million and $130 million this year, related to closing of facilities and termination of leases.

Net revenue rose 4.6 percent to $1.37 billion, beating analysts' estimates of $1.31 billion, according to Thomson Reuters I/B/E/S.

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Excluding items, the company's earnings were in line with estimates.

(Reporting by Nivedita Balu in Bengaluru; Editing by Shounak Dasgupta)

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