(NYSE: UAA) Under Armors' Revenue is Under Pressure

NYSE:UAA   Under Armour, Inc.
Under Armour Inc (NYSE:UA) shares rose after the sportswear maker reported second-quarter earnings that exceeded analysts’ expectations, as well as its own.

However, while it maintained its outlook for full-year earnings, it lowered its revenue expectations due to challenges in North America, its biggest market, during the back half of the year.

For the three months to September 30, 2023, the company posted flat revenue of $1.6 billion as revenue increases in EMEA and the Asia Pacific region made up for declines in North America and Latin America.

Revenue from apparel and accessories rose, compensating for a decline in footwear revenue. Diluted earnings per share (EPS) rose 26% to $0.24.
The company has guided for full-year 2024 revenue to be 2% to 4% down versus its previous expectation of flight to slightly higher.

However, it expects a gross margin of 100 to 125 basis points against its previous guidance of 25 to 75 basis points.

It still expects to achieve diluted EPS of between $0.47 and $0.51.

Technical Analysis
UAA is trading near the bottom of its 52-week range and below its 200-day simple moving average.

What does this mean?
Investors have been pushing the share price lower, and the stock still appears to have downward momentum as you can see depicted on the trendline.

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