Business
Puma Shares Rise as Results Top Estimates Despite Swing to Loss
Puma PUM -4.31%decrease; red down pointing triangle shares rose after fourth-quarter results topped analysts’ estimates as the sporting-goods company continues to navigate a strategic reset.
The German company on Thursday said it swung to a net loss of 336.6 million euros ($397.6 million) in the fourth quarter, compared with a net profit of 24 million euros in the same period a year prior. Despite the drop, Puma’s results outshone analysts’ expectations of a 358 million-euro net loss, according to company-compiled estimates.
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