Under Armour Is Tumbling

Under Armour beats on revenue and talks up Jordan Spieth, but its forecast missed expectations and now the stock is tumbling

Under Armour just reported first-quarter earnings per share that matched estimates and revenue that beat expectations, while also raising its revenue outlook and talking up Masters winner Jordan Spieth.

After the news, however, shares of the company were down about 3.8% shortly after the market open after its revenue outlook came in shy of expectations.

In the first quarter, the athletic footwear and apparel company reported earnings per share of $0.05, matching expectations, on revenue of $805 million, beating Wall Street's expectations for revenue of $802.5 million, according to estimates from Yahoo Finance.

The company's outlook, however, disappointed, with Under Armour raising its full-year revenue outlook to $3.78 billion from $3.76 billion, shy of expectations for revenue of $3.82 billion.

The company also spent time in its press release talking up Spieth, its 21-year-old golf star who earlier this month won the prestigious Masters golf tournament while tying the course record.

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