Under Armour on Thursday reported first quarter revenue rose 7% to $1.1 billion, driven by a 4% increase in wholesale revenue to $773 million and a 13% increase in direct-to-consumer revenue to $302 million. Q1 operating income was $8 million, and net loss in the quarter was $2 million or a penny per diluted share. That beat analyst expectations for a 4-cent loss cited by MarketWatch; the beat helped lift shares 9% Thursday morning.
The sports gear maker faced headwinds in North America, where Q1 revenue declined 1%, as new distribution was more than offset by the absence of business lost to last year’s bankruptcies.
