Why Callaway Golf Just Exploded 13% Higher

Shares of golf supplies company Callaway Golf (NYSE: ELY) stock rocketed this morning in response to a huge first-quarter earnings beat reported last night. Instead of the $561.6 million in sales and $0.14 per share in profit (pro forma) that Wall Street was looking for, Callaway reported sales of $652 million, and $0.62 per share in profit -- more than four times the pro forma profit analysts had predicted. Callaway's sales shot up 47% in comparison to last year's first quarter, and pro forma profits grew more than ninefold.