Key Takeaways
- On Holding posted record sales, but expenses and negative foreign currency exchange hurt profits.
- The high-end sneaker maker backed by tennis great Roger Federer said exposure at the Paris Olympics and success of athletes that wear its sneakers boosted brand awareness.
- On Holding raised its full-year revenue outlook.
On Holding AG (ONON) shares bounced between gains and losses Tuesday after the maker of high-end sneakers repor💧ted mixed results as higher costs and foreign currency impacts of✤fset record sales.
The Swiss company backed by tennis legend Roger Federer posted third-quarter 澳洲幸运5开奖号码历史查询:earnings per share (EPS) of 0.09 Swiss francs ($0.10), while analysts surveyed by Visible Alpha were looking for CHF0.16 ($0.18). Revenue rose 32% year-over-year to a record CHF635.8 million ($720.6 million).
澳洲幸运5开奖号码历史查询:Selling, general, and a꧅dministrative (SG&🌌;A) expenses jumped 36% to CHF312.7 million. The company🐟 had a foreign exchange loss of CHF42.6 million after registering a gain of CHF13.8 million a year ago.
Company Says Brand Awarenes🔜s Surging Due To Paris Olympics
On Holding noted its brand awareness has surged in recent months thanks to exposure at the Paris Olympics and the success of athletes who wear its shoes, as well as its technology an꧙d partnerships. The company also pointed to growth in the Asia-Pacific region.
On Holding raised its full-year revenue guidance to CHF2.29 billion from its earlier outlook of CHF2.26 billion.
Shares of On Holding closed at an all-time-high $52.71 yesterday. They hit an intraday record of $54.00 Tuesday morning but recently pulled back slightly to $52.29.
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