Nike Air Jordan shoes are seen in store in Krakow, Poland on August 26, 2021.
Jakub Porzycki | Nurphoto | Getty Images
Nike topped Wall Street’s earnings and sales expectations for the fiscal fourth quarter on Monday as the sneaker giant weathered a Covid lockdown in China and a tougher climate for consumers in the United States
Shares were up about 2% in aftermarket trading.
Here’s how Nike performed in the fiscal fourth quarter versus Wall Street expectations, based on a poll of analysts by Refinitiv:
- Earnings per share: 90 cents vs. 81 cents expected
- Revenue: $12.23 billion versus $12.06 billion expected
The company reported net income of $1.44 billion, or 90 cents a share, for the three-month period ended May 31, compared to $1.51 billion, or 93 cents a share, a year ago.
Revenue fell to $12.23 billion from $12.34 billion a year earlier.
Shares of Nike closed at $110.50 on Monday, down 2.13%. As of Monday’s close, Nike shares are down about 34% so far this year. It has underperformed the S&P 500, which is down about 18% over the same period. The company’s market value is $173.9 billion.
This story evolves. Please check again for updates.
https://www.cnbc.com/2022/06/27/nike-nke-earnings-q4-2022-earnings-.html Nike (NKE) reports Q4 2022 results