Under Armour raises full-year sales forecast again

Under Armour Inc raised its full-year revenue and profit forecast for the second time in three months as strong demand for its celebrity-endorsed products helped the sportswear maker beat quarterly sales estimates.

The success of sports stars such as golfer Jordan Spieth and ballerina Misty Copeland, who have lines of signature products with Under Armour has helped the company's results race past estimates in the past few quarters.

Apparel sales jumped 23 percent in the second quarter ended June 30, while footwear sales soared 40 percent to $154 million, boosted by demand for running shoes and the exclusive line of NBA star Stephen Curry.

Revenue jumped 29 percent to $783.6 million, said the No.2 U.S. sports apparel and footwear maker.

Net income, however, fell nearly 17 percent to $14.8 million, or 7 cents per share, as selling, general and administrative costs rose 31 percent largely due to investments related to the company's Connected Fitness business.

Analysts on average had expected a profit of 5 cents per share and revenue of $761.5 million, according to Thomson Reuters I/B/E/S.

Under Armour said it now expects full-year revenue of $3.84 billion, up from $3.78 billion it forecast earlier.

Under Armour shares were up 1 percent at $90.26 in premarket trading. They have risen 31.6 percent in the year through Wednesday.