Why Callaway Golf's Shares Plunged 9.9% Today
Shares of golf club maker Callaway Golf (NYSE: ELY) fell as much as 9.9% in early trading on Thursday after the company reported fourth-quarter financial results. Shares gained back some of those losses but were still down 4.7% at 2:30 p.m. EDT.
Revenue for the quarter was up 20.1% versus a year ago to $375 million, easily surpassing the $337 million mark that analysts had been expecting. But Callaway's net loss was $41 million, or $0.43 per share, down from a $29 million loss a year ago.
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Source Fool.com
