Topgolf Callaway Brands Corp.’s golf-ball sales helped boost equipment revenue growth past its entertainment segment for the first time since the companies combined four years ago.
Golf ball sales grew 17% in the December quarter, helping the equipment business surpass analyst estimates. Its golf-based driving range business was flat in the quarter. The company also released full-year revenue guidanceBloomberg Terminal that missed estimates, causing shares to drop as much as 10% postmarket in New York before moving higher.
