Callaway Golf Co. Q1 Profit Decreases, but beats estimates

(RTTNews) - Callaway Golf Co. (ELY) announced earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $86.7 million, or $0.44 per share. This compares with $272.5 million, or $2.19 per share, in last year's first quarter.

Excluding items, Callaway Golf Co. reported adjusted earnings of $70.9 million or $0.36 per share for the period.

Analysts on average had expected the company to earn $0.24 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 59.6% to $1.04 billion from $651.6 million last year.

Callaway Golf Co. earnings at a glance (GAAP) :

-Earnings (Q1): $86.7 Mln. vs. $272.5 Mln. last year. -EPS (Q1): $0.44 vs. $2.19 last year. -Analyst Estimates: $0.24 -Revenue (Q1): $1.04 Bln vs. $651.6 Mln last year.