(Reuters) - Under Armour ( UAA ) on Thursday raised its forecast for annual profit after beating third-quarter results, helped by the athletic wear maker's efforts to dial down on discounts and improving demand in North America and Asia.

The company's shares were up about 9% in premarket trading.

Consumers looking for on-trend shoes and apparel during the holiday quarter aided in boosting sales for sportswear companies, igniting hopes of demand recovery amid slowdown in crucial markets like China.

The company expects annual adjusted earnings per share to be in the range of 28 cents to 30 cents, compared with a prior range of 24 cents to 27 cents per share.

The company's quarterly revenue fell 5.7% to $1.40 billion from a year ago. Analysts' on average had estimated $1.34 billion, as per data compiled by LSEG.

It posted quarterly adjusted earnings per share of 8 cents, beating estimates of 4 cents per share.