Amidst chatter regarding Under Armour‘s growth, the brand continues to far exceed expectations. Today the brand announced their first quarter 2016 earnings which detail extremely impressive expansion.
Reported by Forbes, revenue has soared to $1.047 billion for the first quarter, ahead of estimates that total $1.036 billion. This also represents a 20% increase in revenue when comparing first quarter 2015 figures.
Of course, the root of this financial awakening is Steph Curry. Under Armour’s footwear sales are up to $264 million from $161 million in first quarter 2015. Much of this heightened revenue is a result of Steph’s Under Armour Curry Two. The brand is also selling more running specific footwear.
Curry’s continued success has propelled the brand greatly. In fact, many would suggest their enhanced visibly and financial gain is solely based on his merit alone. Not true. With MVP caliber talent in every major sport, Steph may be the trailblazer but he’s certainly not the only component to this success story.
Still, the NBA’s scoring champion, likely 2x MVP and quite possibly back-to-back world champ is UA’s bread and butter. And better yet, things only look to be headed upwards from here.