BALTIMORE (AP) — BALTIMORE (AP) — Under Armour Inc. (UAA) on Thursday reported a loss of $305.4 million in its fiscal first quarter.
The Baltimore-based company said it had a loss of 70 cents per share. Earnings, adjusted for non-recurring costs and restructuring costs, were 1 cent per share.
The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for a loss of 8 cents per share.
The sports apparel company posted revenue of $1.18 billion in the period, which also beat Street forecasts. Eleven analysts surveyed by Zacks expected $1.14 billion.
Under Armour expects full-year earnings in the range of 19 cents to 22 cents per share.
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