Under Armour UA reported a 47% drop in its first-quarter earnings.
Under Armour lifted its full-year revenue forecast to $2.21 billion to $2.23 billion, versus its January view of $2.2 billion to $2.22 billion.
Under Armour's quarterly profit fell to $7.8 million, or $0.07 per share, versus $14.7 million, or $0.14 per share, in the year-ago period.
Its revenue rose 23% to $471.61 million. However, analysts were expecting earnings of $0.03 per share on revenue of $468 million
Its gross margin widened to 45.9% from 45.6%
Under Armour shares closed at $55.67 yesterday.
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