Under Armour revenue beats on e-commerce strength
Reuters
Published Jul 31, 2020 07:19AM ET
(Reuters) - Sportswear maker Under Armour Inc (N:UAA) (N:UA) beat analysts' estimates for quarterly revenue on Friday, as consumers shopped more online during the coronavirus lockdowns, sending its shares up about 8% in premarket trading.
Net revenue fell about 41% to $707.6 million in the second quarter ended June 30, compared with estimates of $558.5 million, according to IBES data from Refinitiv.
Under Armour reported a bigger net loss of $182.9 million, or 40 cents per share, in the quarter, compared with a loss of $17.3 million, or 4 cents per share, a year earlier.
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Written By: Reuters
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