Why Callaway Golf Just Exploded 13% Higher
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.
Image source: Getty Images.
Source Fool.com