This morning, Under Armour (NYSE: UA) reported a better-than-expected profit as demand rose in its footwear category. The company also raised its full-year revenue forecast.
The apparel maker said its second-quarter earnings came to $7 million, or $0.06 per share, up from $6 million, or $0.06 cents per share, in the same period of last year. Revenues increased 27% to $369 million. Sales in the footwear category jumped 44%. Footwear contributes about 19% of total revenue.
Both the top line and bottom line numbers exceeded consensus estimates.
The company now expects 2012 net revenues in the range of $1.80 billion to $1.82 billion, up from the previous range of $1.78 billion to $1.80 billion.
Rival Nike (NYSE: NKE) fell short of earnings estimates in its most recent quarterly report, sending shares tumbling. The company cited high product costs and weak international demand for the disappointing results.
Under Armour is up more than 5% to $51.07 in premarket trading, in a 52-week range of $26.31 to $53.93. Nike has slipped about 0.3% to $92.60 in premarket trading. Its 52-week range is $76.98 to $114.81.
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.