RTTNews | Nov 2, 2021 10:26AM EDT

10:26 Tuesday, November 2, 2021 (RTTNews.com) - Shares of Under Armour, Inc. (UAA) are rising more than 16% Tuesday morning after the branded performance apparel maker reported sharp increase in third quarter results driven by strong demand.

The company reported net income of $113.44 million or $0.24 per share, significantly higher than $38.95 million or $0.09 per share in the same quarter a year ago due to revenue growth.

Excluding items, earnings were $0.31 per share.

Revenue for the quarter increased 8% year-on-year to $1.546 billion, helped by strong performance in owned and operated stores.

Looking forward to the full year, the company expects adjusted EPS to be about $0.74 compared to the previously expected range of $0.50 to $0.52 per share.

Revenue for the full year is expected to be up nearly 25 percent compared to the previous expectation of low-twenties percentage increase.

UAA, currently at $25.71 has traded in the range of $14.01- $26.45 in the last 52 weeks.

Read the original article on RTTNews ( https://www.rttnews.com/3238395/under-armour-rallies-as-strong-demand-leads-to-improved-earnings.aspx)

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