Why Callaway Golf Stock Popped 10.4% on Wednesday
Shares of Callaway Golf (NYSE: ELY) jumped as much as 16.1% in trading on Wednesday after the golf and entertainment company reported first-quarter 2022 financial results. Shares closed the day up 10.4%, making them one of the few stocks moving higher in the market right now.
First-quarter revenue jumped 59.6% from a year ago to $1.04 billion, and net income calculated under generally accepted accounting principles (GAAP) was $86.7 million, or $0.44 per share. On an adjusted basis, which pulls out one-time items, earnings were $0.36 per share; analysts were expecting just $0.24 per share.
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Source Fool.com
