ZURICH (AP) — ZURICH (AP) — On Holding AG (ONON) on Tuesday reported first-quarter profit of $63.1 million.
The Zurich-based company said it had net income of 19 cents per share. Earnings, adjusted for one-time gains and costs, came to 23 cents per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.
The running-shoe and apparel company posted revenue of $808.1 million in the period, which topped Street forecasts. Nine analysts surveyed by Zacks expected $778.8 million.
On Holding expects full-year revenue of $3.18 billion.
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