Under Armour beats Wall Street estimates for fourth-quarter revenue

FILE PHOTO – A wall of basketball shoes is seen on display at an Under Armour store in Chicago, Illinois, U.S., October 25, 2016. REUTERS/Jim Young/File Photo

(Reuters) – Under Armour Inc, reported quarterly revenue that edged past Wall Street estimates on Tuesday, as the sportswear maker discounted less and sold more sneakers at full price during the holiday season.

The company reported a net income of $4.2 million, or 1 cent per share, in the fourth quarter ended Dec. 31, compared with a loss of $87.9 million, or 20 cents per share, a year earlier, when it took a one-time charge related to changes in the U.S. tax laws.

Net revenue rose to $1.39 billion from $1.37 billion, beating the average analyst estimate of $1.38 billion, according to IBES data from Refinitiv.

Reporting by Uday Sampath in Bengaluru;Editing by Arun Koyyur

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