Quarter 1's top eBay earners isn't the only sneaker sales report coming out today, as Under Armour has just announced its earnings for the start of the year.
Unsurprisingly, the brand is continuing to put numbers on the board, bringing in a total of $1.047 billion in the first quarter and surpassing analyst predictions of $1.036 billion. Under Armour's earnings per share also managed to double expectations at $0.04, a number that Forbes says could see the stock's grade of underweight return to equal-weight.
Footwear has been a major earner for UA, with $264 million in net revenues for Q1, a whopping 64 percent increase from the same time last year when the brand reported $161 million in footwear earnings. This can be largely attributed to the success of Steph Curry's sneakers, although it's noted that Under Armour may need to rely less on Curry and expand on its hoops sneakers if it wants to seriously compete with Nike and adidas.
"The strong results posted this quarter truly demonstrate the balanced growth of our brand across product categories, channels and geographies," Chairman and CEO Kevin Plank said. "It also showcases our heightened focus on providing better service across our distribution channels, ensuring that our consumer consistently finds the newest, most premium product from us wherever they shop."
