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Why Under Armour Stock Is Trading Higher

Under Armour Inc UA UAA shares are trading higher during Thursday’s session after the company reported better-than-expected third-quarter EPS and sales results.

What Happened?

Under Armour reported quarterly earnings of 20 cents per share which beat the analyst consensus estimate of 16 cents. The company reported quarterly sales of $1.57 billion which beat the analyst consensus estimate of $1.55 billion by 2%.

“We’re pleased to have delivered second-quarter results that were in line with our expectations,” said Under Armour Interim President and CEO Colin Browne.

See Also: Why Fastly Shares Are Popping Off

“While we anticipate the immediate macroeconomic backdrop to stay uncertain – we are taking a balanced approach to mitigate near-term pressures while continuing to focus on the long-term strength of our brand.”

According to data from Benzinga Pro, Under Armour Class A is trading higher by 12.68% to $8.00.

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