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Under Armour posts smaller-than-expected 1Q loss

FILE - In this Monday, Jan. 4, 2016, file photo, an Under Armour chest strap heart rate monitor is displayed in New York. Under Armour Inc. (UAA) on Thursday, April 27, 2017, reported a first-quarter loss of $2.3 million, after reporting a profit in the same period a year earlier. (AP Photo/Mark Lennihan, File)

BALTIMORE (AP) -- Under Armour slipped to a loss in its first quarter as costs rose, but it still beat Wall Street expectations and shares surged more than 11 percent before the market opened Thursday.

For the period ended March 31, the company lost $2.3 million, or a penny per share. Analysts surveyed by Zacks Investment Research were expecting a loss of 4 cents per share.

Last year, the Baltimore sports gear company put up a profit of $19.2 million, or 4 cents per share, a year earlier.

And fueled by a 52 percent rise in international sales, revenue rose to $1.12 billion, from $1.05 billion, also edging out analyst projections.

International revenue, from Europe, the Middle East, Africa, the Asia-Pacific and Latin America regions, made up 20 percent of total revenue in the quarter.

Revenue from accessories increased 12 percent, while revenue from clothing rose 7 percent. Footwear revenue edged up 2 percent.

Under Armour Inc. maintained its fiscal 2017 forecast for revenue to reach nearly $5.4 billion. Analysts polled by FactSet have been expecting $5.36 billion in revenue.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UAA at https://www.zacks.com/ap/UAA

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Keywords: Under Armour, Earnings Report