On Holding Slips 8% In Spite Of Increased Profit, Sales

On:

Shares of sports products provider On Holding AG (ONON) are falling more than 8% Wednesday morning despite reporting improved third-quarter results.

Profit for the third quarter increased to CHF 20.63 million or CHF0.06 per share from CHF 12.99 million or CHF0.04 per share.

Sales for the quarter increased 50.4% year-on-year to CHF 328.0 million.

For the full year, On has increased its net sales outlook by CHF 25 million, to CHF 1.125 billion, representing a year-over-year growth of approximately 55% compared to 2021.

ONON is at $18.48 currently. It has traded in the range of $15.44-$55.87 in the last 1 year.

Source: Read Full Article

Lates News:
  1. Green Plains Adds 7% On Improved Revenue In Q4
  2. Cryptos Slide As Jobs Data Dashes Hopes Of A Quick Fed Pivot
  3. Jordan Peterson Sparks Discussion on Bitcoin vs. Traditional Banks
  4. Crypto Community on High Alert as Bitcoin Core Developer Loses Over 200 BTC In Hack
  5. Crypto Market Sentiment Muted Amidst Central Bank Reviews