Under Armour Inc UAA is trading higher Tuesday morning after the company announced better-than-expected second-quarter financial results and raised guidance.
Under Armour reported quarterly earnings of 24 cents per share, which beat the estimate of 5 cents per share. The company reported quarterly revenue of $1.35 billion, which beat the estimate of $1.2 billion.
Under Armour raised its full-year 2021 earnings guidance to a range of 50 cents per share to 52 cents per share, which is higher than the estimate of 30 cents per share.
"With the critical mass of our transformation behind us and the continued improvements across product, marketing, and our financial results, I believe this year sets a robust foundation that positions us well for our next chapter of profitable growth," said Patrik Frisk, president and CEO of Under Armour.
Price Action: Under Armour has traded as high as $26.45 and as low as $9.63 over a 52-week period.
At last check Tuesday, the stock was up 4.41% at $22.04.
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