On Holding AG (NYSE: ONON) shares surged more than 19% in late-morning trading on Wednesday after the global sportswear provider reported better than expected financial results for its third quarter 2025 and lifted its full-year outlook.
On, the sneaker brand backed by Swiss tennis legend Roger Federer, posted earnings per share for the quarter of $0.54, surpassing the $0.34 analyst consensus estimate, according to data provided by Bloomberg.
The Switzerland-headquartered company’s revenue for the period, meanwhile, rose 25% year over year to $993 million, topping the Wall Street forecast of $960 million.
On, which has a brand partnership with Hollywood star Zendaya (pictured), flagged that revenue growth was led by the Asia-Pacific region, where sales more than doubled in the quarter when adjusted for currency fluctuations.
"These results give us strong confidence - both for a successful holiday season and for the long term, as we continue building the world’s most premium global sportswear brand," On Holding CEO Martin Hoffmann said in a statement.
For fiscal year 2025, On said it expects net sales to be up at least 34% year over year compared with its previous forecast for an increase of at least 31%.