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Callaway: 2Q Earnings Snapshot

August 8, 2019

CARLSBAD, Calif. (AP) _ Callaway Golf Co. (ELY) on Thursday reported second-quarter net income of $28.9 million.

The Carlsbad, California-based company said it had profit of 30 cents per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, came to 37 cents per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.

The maker of golf equipment and accessories posted revenue of $446.7 million in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $429.1 million.

For the current quarter ending in October, Callaway expects its per-share earnings to range from 20 cents to 24 cents.

The company said it expects revenue in the range of $412 million to $422 million for the fiscal third quarter.

Callaway expects full-year earnings in the range of $1.03 to $1.09 per share, with revenue ranging from $1.69 billion to $1.7 billion.

Callaway shares have climbed 15% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $17.54, a decrease of 20% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ELY at https://www.zacks.com/ap/ELY

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