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Nike Inc. (NYSE:NKE) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 7.35%.
Nike Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 21.67% to $0.73 in the quarter versus EPS of $0.60 in the year-earlier quarter.
Revenue: Rose 5.83% to $6.19 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Nike Inc. reported adjusted EPS income of $0.73 per share. By that measure, the company beat the mean analyst estimate of $0.67. It missed the average revenue estimate of $6.23 billion.
Quoting Management: “Our team delivered strong results in Q3. We did it with a relentless flow of innovation into our key categories,” said Mark Parker, President and CEO of NIKE, Inc. “Given the diversity of our portfolio, we’re able to capture big opportunities that drive sustainable, profitable growth. At the same time we continue to invest in new ways to enhance athletic performance, build strong consumer communities, and improve how we design and manufacture our products. That’s how we increase our potential and drive shareholder value.”
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