Under Armour revenue beats on e-commerce strength

(Reuters) – Sportswear maker Under Armour Inc (UAA.N) (UA.N) beat analysts’ estimates for quarterly revenue on Friday, as consumers shopped more online during the coronavirus lockdowns, sending its shares up about 8% in premarket trading.

Net revenue fell about 41% to $707.6 million in the second quarter ended June 30, compared with estimates of $558.5 million, according to IBES data from Refinitiv.

Under Armour reported a bigger net loss of $182.9 million, or 40 cents per share, in the quarter, compared with a loss of $17.3 million, or 4 cents per share, a year earlier.

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