Shares of Under Armour Class A (UAA) surged 7.04% in the pre-market trading session on Thursday, following the company's better-than-expected third-quarter earnings report. Under Armour reported adjusted earnings per share of $0.08, outpacing analysts' estimates of $0.04 per share.
The sportswear giant also reported a strong top-line performance, with revenue of $1.4 billion, exceeding analysts' projections of $1.34 billion. This solid revenue growth was likely driven by strong demand for Under Armour's products and effective marketing strategies.
Under Armour's impressive Q3 results and positive outlook for the full year have bolstered investor confidence in the company's growth prospects. With its focus on innovation and brand recognition, Under Armour is well-positioned to capitalize on the growing athleisure and fitness markets.
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