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Nike Stock Jumps 6% on Q3 Beat -Breaking

by Mike Robinson

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© Reuters. Nike’s (NKE), Stock Gains 6% on Q3 Beat

Nike After the release of Q3 results by the company, shares of (NYSE:) rose 6.6%. The EPS was $0.87 higher than the consensus estimate.

Revenue increased 5% (or 8.8% on a currency neutral basis) to $10.9 Billion, surpassing the consensus estimate at $10.59 billion. This was led NIKE Direct Growth of 17% over the past year. NIKE Brand Digital, which was led by 33% North American growth, fueled the growth.

John Donahoe is the President and Chief Executive Officer of Donahoe. He stated that these strong results are proof that Consumer Direct Acceleration strategies work.

In the third quarter, shareholders received $1.7 billion – $1.2 Billion from share repurchases; $484 M from dividends.

By Davit Kirakosyan

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