Under Armour (NYSE: UAA) reported third-quarter earnings that exceeded expectations and issued profit guidance for the full year that topped forecasts, sending shares up more than 11% intra-day on Friday.

The athletic apparel maker posted earnings per share of $0.09, beating analyst expectations for a $0.02 loss. Revenue totaled $1.33 billion, declining 6% on a currency-neutral basis but slightly above the consensus estimate of $1.31 billion.

North America remained a drag on results, with revenue falling 10% to $757 million. International revenue increased 3% to $577 million, though growth was just 1% on a currency-neutral basis. Within international markets, EMEA revenue rose 2% on a currency-neutral basis, Asia-Pacific declined 5%, and Latin America increased 13%.

Adjusted operating income reached $26 million, excluding litigation reserves and transformation and restructuring costs. Gross margin declined 310 basis points to 44.4%, primarily reflecting the impact of higher tariffs.

Looking ahead, Under Armour forecast fiscal 2026 earnings per share of $0.10 to $0.11, exceeding the average analyst estimate of $0.05. The company now expects full-year revenue to decline by approximately 4%, an improvement from its prior outlook calling for a 4% to 5% decrease.