Investors Cheer Under Armour's Q3 Results

Under Armour, Inc. (NYSE: UA) delivered higher than expected earnings and revenue for the third quarter. The company reiterated its revenue and operating income forecast for the year 2016.

• Reports EPS of $0.29, beats by $0.04.
• Net revenues increased 22 percent to $1.47 billion, topped by $0.02 billion.
• Direct-to-Consumer net revenues advanced 29 percent on a year-over-year basis.
• Continues to expect net revenues of about $4.925 billion for the year 2016. Street expects $4.94 billion.
• Maintains operating income guidance of $440-$445 million.

The company's full press release http://investor.underarmour.com/releasedetail.cfm?ReleaseID=995196

Following this, the stock fell about 3 percent in pre-market trading on Tuesday. however, it recovered and traded recently at $38.25, up about 1 percent.