Nike on Thursday said it had a strong first fiscal quarter despite volatility in the market, as the sneaker giant continues to face challenges around the supply chain and rising costs.
Still, shares dropped 2.3% in after-hours trading,
Here’s how Nike did in its first fiscal quarter compared with what Wall Street was anticipating, based on a survey of analysts by Refinitiv:
Earnings per share: 93 cents vs. 92 cents expectedRevenue: $12.69 billion vs. $12.27 billion expected
Nike reported net income for the three-month period ended Aug. 31 of $1.5 billion, or 93 cents per share, compared with $1.87 billion, or $1.18 per share, a year earlier.
Revenue during the period was up 4% to $12.7 billion, compared with $12.2 billion a year earlier.
Read the company’s earnings release here.
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