UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                   -----------


                                    FORM 8-K

                                 CURRENT REPORT
                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


                                  July 17, 2003
                Date of Report (Date of Earliest Event Reported)


                              CALLAWAY GOLF COMPANY
             (Exact Name of Registrant as Specified in its Charter)


    DELAWARE                            1-10962                   95-3797580
(State or Other Jurisdiction           (Commission            (I.R.S. Employer
    of Incorporation)                  File Number)         Identification No.)



                              2180 Rutherford Road
                             Carlsbad, CA 92008-7328
                    (Address of Principal Executive Offices)

                                 (760) 931-1771
              (Registrant's Telephone Number, Including Area Code)








                                TABLE OF CONTENTS

ITEM 9.  REGULATION FD DISCLOSURE AND ITEM 12. RESULTS OF OPERATIONS AND
         FINANCIAL CONDITION.*
SIGNATURE
Exhibit Index
EXHIBIT 99.1


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ITEM 9.    REGULATION FD DISCLOSURE AND ITEM 12. RESULTS OF OPERATIONS AND
           FINANCIAL CONDITION.*

           The following information and the exhibit relating thereto are
furnished pursuant to Item 9 and Item 12 of this Current Report on Form 8-K.

           On July 17, 2003, Callaway Golf Company issued a press release
announcing its financial results for the second quarter ended June 30, 2003. A
copy of the press release is attached hereto as Exhibit 99.1.

*The information furnished under Item 9 and Item 12 of this Current Report on
Form 8-K, including Exhibit 99.1, shall not be deemed to be "filed" for the
purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or
otherwise subject to the liabilities of that section.


                                    SIGNATURE

           Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

Date: July 17, 2003                 CALLAWAY GOLF COMPANY



                                    By:      /s/ Bradley J. Holiday
                                           ------------------------
                                           Bradley J. Holiday
                                           Executive Vice President
                                           and Chief Financial Officer


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                                  Exhibit Index

99.1     Press release, dated July 17, 2003, captioned "Callaway Golf Announces
         Record Six Months' Net Income and EPS; Increases EPS
         Guidance for 2003."