Shares of On Holding (ONON) are soaring in Tuesday morning's trading session, propelled by the company's first quarter earnings beat on both the top and bottom lines. The Swiss athletic apparel and footwear brand reported revenue of $508.2 million, surpassing estimates of $497.8 million.

The company also delivered an adjusted earnings per share (EPS) of $0.33, topping the expected $0.14 per share. On Holding reported a 21% year-over-year surge in net sales, further boosting the stock.

Yahoo Finance's Seana Smith and Brad Smith break down the report's details.

For more expert insight and the latest market action, click here to watch this full episode of Morning Brief.

This post was written by Angel Smith

Video Transcript

On holding that a soaring up just about 15% here in early trading.

The company reporting net sales that jumped 21% from a year ago also reiterated its full year net sales target of at least 30% growth now.

So obviously, the street very encouraged by what it saw.

I'm taking a look at quick analyst reaction here in the terminal.

Baird saying that it's given Q one had had been seen as the low point of the year for revenue growth and merging expansion, the update here, strengthening Baird's conviction and the full year outlook.

So again, very optimistic at this point just in terms of that outlook and what the next couple of quarters could look like for on holding.

I don't want people to be confused by me saying love it as you were mentioning it with a recommendation at all.

It's not, you just love to see a solid reaction on an earnings report like this, especially when you've got a beat on top and bottom line here.

And of course, we've spoken with the CEO S, the CO CEO S here on Yahoo Finance, one of those Co CEO S Martin saying the first quarter was a very strong start to the year further step in the execution of that long term strategy.

Um And this is a premium sportswear brand.

Uh And that's where they want to play at.

And that's why it's so darn expensive.