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. 

Image source: Getty Images.

Continue reading

Source Fool.com