On Holding Rises 7% As Revenue Grows More Than 50%

Shares of sports products maker On Holding AG (ONON) are up more than 7% Friday morning after reporting more than 50% growth in fourth-quarter revenue.

Net sales for the fourth quarter increased 53.7% year-over-year to CHF 191.1 million.

The company reported net loss of CHF 186.98 million or CHF 0.60 per share, wider than CHF 2.6 million or CHF 0.01 per share a year ago, on higher expenses.

For the full year, On Holding said it expects net sales to exceed CHF 990 million, a year-over-year growth of at least 37%.

ONON, currently at $26.24, has been trading in the range of $19.75-$55.87 in the past 52 weeks.

Source: Read Full Article