ZURICH (AP) — ZURICH (AP) — On Holding AG (ONON) on Tuesday reported a loss of $49.6 million in its second quarter.
On a per-share basis, the Zurich-based company said it had a loss of 15 cents. Losses, adjusted for stock option expense, came to 11 cents per share.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.
The running-shoe and apparel company posted revenue of $907.8 million in the period, beating Street forecasts. Nine analysts surveyed by Zacks expected $850.9 million.
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