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 2.36%.
Nike Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 28.81% to $0.76 in the quarter versus EPS of $0.59 in the year-earlier quarter.
Revenue: Rose 3.51% to $6.7 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Nike Inc. reported adjusted EPS income of $0.76 per share. By that measure, the company beat the mean analyst estimate of $0.74. It beat the average revenue estimate of $6.64 billion.
Quoting Management: “Fiscal 2013 was a great year for NIKE, driven by our innovative products and the power of our brands,” said Mark Parker, President and CEO of NIKE, Inc. “And we’re excited about what lies ahead. We have the best leadership team in the industry and a deep innovation pipeline. Both are aligned against our biggest opportunities to drive growth, manage risk and drive long-term shareholder value.”
Key Stats (on next page)…