CARLSBAD, Calif. (AP) — CARLSBAD, Calif. (AP) — Topgolf Callaway Brands Corp. (MODG) on Wednesday reported first-quarter profit of $6.5 million.
On a per-share basis, the Carlsbad, California-based company said it had profit of 4 cents. Earnings, adjusted for non-recurring costs and amortization costs, were 9 cents per share.
The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The maker of golf equipment and accessories posted revenue of $1.14 billion in the period, which fell short of Street forecasts. Eleven analysts surveyed by Zacks expected $1.15 billion.
For the current quarter ending in June, Topgolf Callaway said it expects revenue in the range of $1.18 billion to $1.2 billion.
The company expects full-year earnings in the range of 31 cents to 39 cents per share, with revenue ranging from $4.43 billion to $4.47 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
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