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Under Armour: shares jump on surprise quarterly sales beat

(CercleFinance.com) - Under Armour reported quarterly revenue on Tuesday that beat analysts' estimates, as the US athletic gear maker said it has benefited from its strategic transformation and "tough decisions.

Its shares have risen by up to 17% to 16.7 dollars in early trading today, having collapsed over 70% since the summer of 2015.

For the fourth quarter to 31 December 2017, Under Armour reported revenue that was up 5% to 1.4 billion dollars.

Analysts were looking for revenue of 1.3 billion dollars.

"We believe the revenue upside was due to greater sell-in and additional distribution in North America," Susquehanna moderated, maintaining a "negative" stance on the stock.

The group's net loss reached 88 million dollars in the quarter. Excluding both a one-off charge related to the US tax reform, and the impact of the restructuring plan, its adjusted net loss reached just 1 million dollar, in line with the group's guidance and the consensus.

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