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Topgolf Callaway Shares Rally on Earnings Beat and Strategic Optimism
Topgolf Callaway Shares Rally on Earnings Beat and Strategic Optimism
17
2
BTCCSquare news:
Topgolf Callaway Brands (MODG) surged 8.8% Thursday after posting better-than-expected Q2 results, with revenue dipping just 4.1% to $1.11 billion and adjusted EPS declining 45.2% to $0.24. The modest declines reflected the Jack Wolfskin divestiture, while Core golf equipment (-1.4%) and Topgolf (-1.2%) showed resilience through pricing strategies.
CEO Chip Brewer highlighted "continued consumer strength" in golf equipment and successful cost initiatives across segments. Market enthusiasm appears tied to Topgolf's improving traffic trends and the anticipated spinoff, though leadership changes may delay the separation into 2025.
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