Nike: Fiscal 2Q Earnings Snapshot
BEAVERTON, Ore. (AP) _ Nike Inc. (NKE) on Thursday reported fiscal second-quarter profit of $847 million.
On a per-share basis, the Beaverton, Oregon-based company said it had profit of 52 cents.
The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.
The athletic apparel maker posted revenue of $9.37 billion in the period, also beating Street forecasts. Ten analysts surveyed by Zacks expected $9.16 billion.
Nike shares have increased almost 8 percent since the beginning of the year, while the Standard & Poor’s 500 index has dropped almost 8 percent. In the final minutes of trading on Thursday, shares hit $67.45, an increase of 6 percent in the last 12 months.