Nike: Fiscal 4Q Earnings Snapshot
BEAVERTON, Ore. (AP) _ Nike Inc. (NKE) on Thursday reported fiscal fourth-quarter net income of $989 million.
The Beaverton, Oregon-based company said it had profit of 62 cents per share.
The results missed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The athletic apparel maker posted revenue of $10.18 billion in the period, topping Street forecasts. Nine analysts surveyed by Zacks expected $10.15 billion.
Nike shares have climbed 13% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 17%. In the final minutes of trading on Thursday, shares hit $83.56, an increase of 17% in the last 12 months.