Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

On Holding Stock Stumbles Despite Earnings Beat and Raised 2023 Guidance

TheMotleyFool

0 0

On Holding Stock Stumbles Despite Earnings Beat and Raised 2023 Guidance: https://g.foolcdn.com/editorial/images/755163/onon-stock-on-holdings-earnings-running-shoes.png

Shares of On Holding (NYSE: ONON), the parent company of the innovative Swiss athletic shoemaker On Running, tumbled 3.4% on Tuesday, following the release of its third-quarter 2023 report.

The slight pullback is likely attributable to some investors taking profits. After all, shares have surged 49.2% this year through Tuesday. The pullback was not a reflection of the company's earnings report, as it was strong: The quarter's revenue and earnings both sprinted by Wall Street's estimates, and management raised its full-year 2023 revenue guidance.

Data source: On Holding. CHF = Swiss franc. 1 CHF = $1.0922 at the end of Q3, per The Wall Street Journal's exchange rate data.

Source Fool.com

Like: 0

ONON

Share