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11/2/2021, 1:10 PM (Source: TeleTrader)
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Under Armour jumps 10% after earnings, forecast update

Shares of Under Armour Inc. soared as much as 10% in premarket trade on Tuesday after the company reported its results for the third quarter of fiscal 2021.

The company's net revenues grew 8%, gross profit was up 15% and operating and net income almost tripled in the third trimester. Furthermore, Under Armour raised its full-year outlook on revenue and operating income, with its diluted earnings per share now expected to reach $0.55, as opposed to the previous projection of $0.14 to $0.16.

The sportswear manufacturer's stock rose 9.65% at 8:06 am ET, selling for $21.98.

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