CARLSBAD, Calif. (AP) _ Callaway Golf Co. (ELY) on Thursday reported first-quarter earnings of $28.9 million.
The Carlsbad, California-based company said it had net income of 30 cents per share. Earnings, adjusted for non-recurring costs and amortization costs, came to 32 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.
The maker of golf equipment and accessories posted revenue of $442.3 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $456.8 million.
Callaway shares have declined 36% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $13.53, a decrease of 19% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ELY at https://www.zacks.com/ap/ELY
Automated Insights, source Associated Press News