Under Armour: shares soar after company raises outlook
(CercleFinance.com) - Under Armour raised its full-year guidance on Tuesday, which sent its shares significantly higher after a strong quarter that saw the US sportswear maker improve its revenue and margins.
In a statement this morning, the company said that its 2018 operating loss is now expected to be between approximately 50 million and 55 million dollars, versus a loss of 60 million dollars previously expected.
Revenue is expected to increase by approximately 3%-to-4%, with the Baltimore-based group expecting international growth of approximately 25%.
In Q3, revenue was rose by 2% to 1.4 billion dollars, while the group's gross margin increased 10 basis points to 46.1%.
The shares were soaring 24% on the NYSE after these numbers.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
In a statement this morning, the company said that its 2018 operating loss is now expected to be between approximately 50 million and 55 million dollars, versus a loss of 60 million dollars previously expected.
Revenue is expected to increase by approximately 3%-to-4%, with the Baltimore-based group expecting international growth of approximately 25%.
In Q3, revenue was rose by 2% to 1.4 billion dollars, while the group's gross margin increased 10 basis points to 46.1%.
The shares were soaring 24% on the NYSE after these numbers.
Copyright (c) 2018 CercleFinance.com. All rights reserved.