CARLSBAD, Calif. (AP) — CARLSBAD, Calif. (AP) — Topgolf Callaway Brands Corp. (MODG) on Monday reported a loss of $1.51 billion in its fourth quarter.

On a per-share basis, the Carlsbad, California-based company said it had a loss of $8.23. Losses, adjusted for asset impairment costs and non-recurring costs, were 33 cents per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 40 cents per share.

The maker of golf equipment and accessories posted revenue of $924.4 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $883.2 million.

For the year, the company reported a loss of $1.45 billion, or $7.88 per share. Revenue was reported as $4.24 billion.

For the current quarter ending in March, Topgolf Callaway said it expects revenue in the range of $1.05 billion to $1.09 billion.

The company expects full-year revenue in the range of $4 billion to $4.18 billion.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MODG at https://www.zacks.com/ap/MODG