UAA - Why Under Armour Stock Popped After Earnings -- Again
Give Under Armour (NYSE: UA) (NYSE: UAA) a round of applause: They did it again.
Three months ago, sportswear maker Under Armour (UA) outperformed expectations with a surprise fourth-quarter profit , and promised to keep the hits coming in fiscal 2021, delivering "high-single-digit percentage" sales growth, better gross profit margins on those sales, and positive operating income to boot (net income would still be negative, however).
Yesterday, the company exceeded expectations once again, delivering an earnings beat: $0.16 per share where analysts were only looking for $0.03. As a result, analysts are upgrading their ratings on Under Armour shares, and investors are bidding the stock higher -- up 9.1% as of 1 p.m. EDT.
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Why Under Armour Stock Popped After Earnings -- Again