Under Armour just had its first billion-dollar quarter
Under Armour just reported third-quarter earnings results that were better than expected.
The clothing and accessories retailer reported revenues of $1.2 billion, the first time it has posted over a billion dollars. Adjusted earnings per share came in at $0.45.
Analysts had estimated that the company posted adjusted earnings per share of $0.44 and revenues of $1.18 billion, according to Bloomberg.
Footwear sales jumped 61%
The company also raised its forecasts for full-year net revenues to about $3.91 billion from $3.84 billion.
CEO Kevin Plank said in the statement, "Our ongoing success in 2015 has been driven by innovative, head-to-toe product, combined with game-changing performances by our athletes. Leveraging these great successes throughout 2015, our current Rule Yourself global marketing campaign highlights the training and dedication that drives our athletes to be their best on the biggest stages. The campaign features Tom Brady, Misty Copeland, Stephen Curry, and recently named PGA Tour Player of the Year Jordan Spieth."
The stock rose about 2% in premarket trading. It is up 46% year-to-date.