Under Armour cemented its membership in the sportswear major players club after reporting revenue growth above 20 per cent for the 20th successive quarter.
Turnover at the sportswear brand increased by 25 per cent to $805m (£541.1m), encouraging the company to boost its outlook for the full year to $3.78bn.
In contrast to the headline revenue figures, net income actually decreased by $2m to $12m while earnings per share dropped 13 per cent from $0.06 per share to $0.05 per share primarily due to the $560m acquisitions of two personal fitness apps Endomondo and MyFitnessPal in February.
As a sign of its increasing power in the sports industry - Under Armour overtook Adidas in US sales last year - the company has swept up a number of visible athletes to endorsement deals such as Andy Murray, Masters winner Jordan Spieth, boxer Saul "Canelo" Alvarez and Bayern Munich and Manchester United target Memphis Depay.
The company's share price slid by more than four per cent to $84 per share in early trading on the New York Stock Exchange with Wall Street expecting bigger things from the brand with the big names and unimpressed with the hefty costs that come with its moves into the online fitness world.
Why it's interesting
What Under Armour said
Chairman and chief executive Kevin Plank said:
We are off to a great start in 2015 and have several powerful stories unfolding in the current quarter. We are incredibly proud that Under Armour athlete Jordan Spieth captured the Green Jacket in record-setting fashion at The Masters last week...
...we are currently debuting cleated models in both American and global football, including a boot worn by one of our newest athletes, Memphis Depay, who has proven to be one of the most exciting young football players in the world and at only 21 years old has the potential to become one of the most exciting players in the beautiful game. These are big wins for the brand and we will continue to leverage our innovative product and targeted marketing investments to attack the vast opportunities ahead.
Under Armour's growth continues, but that didn't shield it from investors de-valuing stock.