Nike Earnings: Here’s Why Investors Like These Results
Nike Inc. (NYSE:NKE) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 5.77%.
Nike Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 34.38% to $0.86 in the quarter versus EPS of $0.64 in the year-earlier quarter.
Revenue: Rose 4.53% to $6.97 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Nike Inc. reported adjusted EPS income of $0.86 per share. By that measure, the company beat the mean analyst estimate of $0.78. It beat the average revenue estimate of $6.96 billion.
Quoting Management: “We had a great first quarter driven by our unrelenting commitment to delivering innovative products and services to athletes around the world,” said Mark Parker, President and CEO of NIKE, Inc. “Our powerful portfolio of businesses combined with unmatched leadership and resources allows us to capitalize on opportunities that drive long-term value for our shareholders. I am more excited than ever about our potential to continue to innovate with purpose, and fuel NIKE’s growth.”
Key Stats (on next page)…