CARLSBAD, Calif. (AP) — CARLSBAD, Calif. (AP) — Topgolf Callaway Brands Corp. (MODG) on Monday reported first-quarter profit of $2.1 million.
On a per-share basis, the Carlsbad, California-based company said it had profit of 1 cent. Earnings, adjusted for non-recurring costs and amortization costs, came to 11 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.
The maker of golf equipment and accessories posted revenue of $1.09 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $1.06 billion.
For the current quarter ending in June, Topgolf Callaway said it expects revenue in the range of $1.08 billion to $1.12 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
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