Why Under Armour Stock Just Popped
Shares of sportswear maker Under Armour (NYSE: UA) (NYSE: UAA) are powering higher in afternoon trading Wednesday, up 7.5% as of 1:20 p.m. on the back of a big earnings beat -- and a promise of sustained profitability to come.
Heading into Q4 2020, analysts had forecast Under Armour would lose money -- $0.07 per share -- on sales of less than $1.3 billion. As it turned out, though, UA did $1.4 billion in sales last quarter and made a pro forma profit of $0.12 per share.
Image source: Getty Images.
Source Fool.com
