Callaway Golf, belonging to the Zacks Leisure and Recreation Products industry, has beaten its estimated quarterly earnings with a $0.62 per share result, surpassing the Zacks Consensus Estimate (ZCE) of $0.12 per share, in the latest report from Zach’s Equity Research.
Just one quarter ago, the golfing equipment and accessory company were expected to post a loss of $0.20 per share, however, it actually produced a loss of $0.33, delivering a surprise of -65%.
Meanwhile, Callaway posted revenues of $651.62 million for the quarter ending March 2021, which beat ZCE estimates again by 13.98%, comparing to $442.28 million in revenues a year ago.
Callaway shares have added about 29.7% , with the company surpassing consensus estimates two times.
In other finance news, an in-depth analysis on the impact of the COVID-19 pandemic by Fantasy Sports Market has predicted the global fantasy sports market is expected to grow by 14% in revenue between 2020-2026.
The essential factor in these numbers is digitalization, with consumers connecting with the outer world via digital mediums.
The report released a number of factors likely to contribute to this growth, including: growth in worldwide sports event count, a rise in data consumption, development of fantasy sports platforms and the rise in female participation in sports.
The report including many factors into the global fantasy sports market segmentation, including geography and insights by vendors.
