Investors Cheer Under Armour's Q3 Results

Under Armour, Inc. UA delivered higher than expected earnings and revenue for the third quarter. The company reiterated its revenue and operating income forecast for the year 2016.

• Reports EPS of $0.29, beats by $0.04.
• Net revenues increased 22 percent to $1.47 billion, topped by $0.02 billion.
• Direct-to-Consumer net revenues advanced 29 percent on a year-over-year basis.
• Continues to expect net revenues of about $4.925 billion for the year 2016. Street expects $4.94 billion.
• Maintains operating income guidance of $440-$445 million.

The company's full press release http://investor.underarmour.com/releasedetail.cfm?ReleaseID=995196

Following this, the stock fell about 3 percent in pre-market trading on Tuesday. however, it recovered and traded recently at $38.25, up about 1 percent.