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Under Armour, Inc. (NYSE: UA, UAA) has reported higher revenue and net profit for the third quarter of 2023, reflecting strong growth in its footwear division.
The company reported earnings of $0.16 per share for the most recent quarter, on an adjusted basis. On an unadjusted basis, it was a profit of $121.6 million or $0.27 per share in the third quarter, compared to $109.7 million or $0.23 per share last year.
Revenue increased 3% year over year to $1.58 billion in the December quarter. Strong growth in the footwear segment more than offset weakness in other divisions.
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“Moving forward, I am excited to partner with Stephanie Linnartz to advance strategic consumer and product refinements further – leveraging the strong Under Armor brand to drive sustainable, profitable growth,” said interim Under Armor CEO Colin Browne.
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