Under Armour Beats Profit And Sales Expectations, But Shares Pull Back

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Under Armour reported a third-quarter profit of $89.1 million, or 41 cents a share, up from $72.8 million, or 34 cents a share, in the same period a year earlier. Sales rose to $937.9 million from last year's $723.1 million. The results topped the FactSet consensus analyst earnings-per-share estimate of 40 cents and sales forecast of $925 million. The athletic apparel company raised its 2014 revenue outlook to $3.03 billion from a previous range of $2.98 billion to $3 billion. Gross margin improved to 49.6% from 48.4%. "The momentum and growing confidence we outlined last quarter in footwear and international were on full display in the third quarter with growth rates accelerating to 50% and 94%, respectively," said Chief Executive Kevin Plank. Meanwhile, the shares fell 4% in premarket trade, after running up 51% so far this year through Wednesday. That compares to a 4.3% year-to-date gain in the S&P 500.

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