Net income was just $6.5 million in the first quarter, down nearly three quarters from $25.0 million last year, on combined revenues that inched 2% lower to $1,144.2 million from $1,167.4 million. Adjusted EBITDA, which backs out the increasingly burdensome interest expense among other items, ticked higher to $160.9 million from $157.3 million. The home market grew 2% to $829.0 million, while Europe declined 8% (-10% CC) to $141.4 million, Asia dropped 20% (-14% CC) to $127.6 million, and rest of world increased by 9% (+10% CC) to $46.2 million.

Topgolf was ... Log in to view full article.