Under Armour shares tank on earnings miss, sees $50 million to $60 million hit from coronavirus
Joe Raedle | Getty Imagesshares plummeted Monday morning after the company reported sales that missed analysts' estimates during the holiday quarter.
Providing its 2020 outlook, Under Armour also said it expects the coronavirus outbreak in China to lower sales by roughly $50 million to $60 million during the fiscal first quarter. Here's how Under Armour did for the quarter ended Dec. 31, compared with what analysts were expecting:Revenue: $1.44 billion vs. $1.47 expectedThis notably markets the first quarter without founder Kevin Plank as CEO. Patrik Frisk succeeded Plank on Jan. 1. PlankAs of Monday's market close, Under Armour's stock has fallen about 1.5% this year. The company has a market cap of about $9.2 billion.
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