Under Armour, Electronic Arts Beat Estimates, Go Two Ways

Both Electronic Arts and Under Armour ended up with well-received earnings reports following very different quarters. Electronic Arts saw its revenue increase nearly 21% year-over-year during its strongest financial first quarter in its 38-year history.  Under Armour posted higher-than-expected revenue numbers; however, revenues were down nearly 41% from the previous year.

EA’s report was likely a result of the multitude of stay-at-home orders across the globe as revenue reached $1.46 billion for the quarter ending June 30, up from last year’s $1.21 billion. Shares for EA have risen roughly 31% since the beginning of the year.

Under Armour, which had a tumultuous quarter, said it was encouraged by its ecommerce sales and momentum as stores reopened. However, it warned that sales could dip as much as 25% in the second half of 2020. UA’s stock has lost nearly 51% of its value this calendar year.

Earnings To Watch This Week:

8/3: Take Two Interactive

8/4: Activision Blizzard, Fox Corp., Sony, and Walt Disney

8/5: Discovery Communications and Roku

8/6: Adidas