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Nike Shares Rise On Earnings, Revenue Beat, Despite China Decline -Breaking

by Mike Robinson

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© Reuters.

Sam Boughedda

Investing.com — Nike Inc (NYSE:)Shares rose 4.9% Monday following the close of earnings. The company reported revenue and earnings which beat analysts’ expectations.

On revenue of $10.9 trillion, the company reported earnings per share at 87c. According to analysts polled, Investing.comOn revenue of $10.63 trillion, EPS is expected to be 71c.

Nike stated that 17% of NIKE Direct growth was responsible for its increased revenue. The NIKE Brand digital business grew 22% due to double-digit North American, APLA and EMEA growth. But, there was a partial offset from declines observed in Greater China.

Greater China had $2.16 trillion in revenue, down 5% over the year.

“Our third quarter results demonstrate NIKE’s ability to navigate through volatility, while continuing to serve consumers directly and digitally, at scale,” said Matt Friend, the company’s chief financial officer.

“Marketplace demand continues to significantly exceed available inventory supply, with a healthy pull market across our geographies.”

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