Under Armour Shares Jump 6% After Third-quarter Earnings Beat

By Caitlin HustonMarketsMarketWatch Pulse

Shares of Under Armour Inc. climbed 6% in premarket trade Tuesday after the company beat third-quarter earnings expectations. The company reported net income of $128.2 million, or 29 cents per share, up from $100 million, or 23 cents per share, in the year-earlier period. Analysts surveyed by FactSet expected adjusted earnings per share of 25 cents. It reported revenue of $1.47 billion, up from $1.20 billion in the year-earlier period and above the FactSet consensus of $1.45 billion. It reiterated its 2016 net revenue outlook of $4.925 billion. FactSet analysts expected revenue of $4.93 billion. Shares of Under Armour have fallen 13% in the past three months, compared to the S&P 500's loss of 1%.

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