The Baltimore-based company’s shares rose 7% premarket, as it also announced the sale of it MyFitnessPal exercise tracking platform for $345 million to Francisco Partners.
The company forecast full-year revenue to fall in the high-teen percentage, compared to analysts’ average estimate of a 25.7% drop, according to IBES data from Refinitiv. Under Armour is still suffering from a plunge in revenue from department stores.
Overall revenue stayed roughly flat at $1.43 billion for the third quarter ended Sept. 30, but beat analysts’ average estimate of $1.16 billion.
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