Under Armour's stock soared 8.78% during intraday trading on Friday, following the release of its quarterly earnings report before the market opened.

The athletic apparel company reported a surprise adjusted quarterly profit of 9 cents per share, beating analyst expectations for a loss of 1 cent. Revenue of $1.33 billion also exceeded forecasts, despite marking an 11th consecutive quarter of year-over-year decline. More significantly, Under Armour sharply raised its full-year adjusted earnings per share guidance to a range of 10 to 11 cents, more than doubling its previous outlook of 3 to 5 cents provided in November.

Management indicated that progress in its multi-year turnaround plan is taking hold, helping to reignite brand momentum. The improved outlook comes even as the company faces persistent headwinds, including higher tariff costs that pressured gross margins and weak demand in key North American and Asia-Pacific markets.