Shares of golf supplies company Callaway Golf (NYSE: ELY) stock rocketed this morning in response to a huge first-quarter earnings beat reported last night. Instead of the $561.6 million in sales and $0.14 per share in profit ( pro forma ) that Wall Street was looking for, Callaway reported sales of $652 million, and $0.62 per share in profit -- more than four times the pro forma profit analysts had predicted.
Callaway stock reacted immediately , rising 13.2% through 2 p.m. EDT.
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Why Callaway Golf Just Exploded 13% Higher