(Nike Inc) Nike Inc reported mixed financial results on Thursday, surpassing earnings-per-share estimates but slightly missing the analysts’ revenue expectations.
The Oregon-based athletic apparel manufacturer posted $1.16 EPS on $12.2 billion in revenue, beating analysts’ expectations of $1.12 EPS and $12.5 billion in revenue, driven by gains in the digital sales versus its retail distribution outlets.
Revenues for Converse were $629 million, up 7%, led by performance in Direct to Consumer in both North America and Europe. The quarterly net income jumped 23% to $1.9 billion, and diluted earnings per share rose by 22% to $1.16.
Nike president and CEO John Donahoe stated that the company has the right playbook to navigate macroeconomic dynamics, as they create value through a relentless drive to fuel the future of the sport.
Nike continued its strong track record of investing to drive growth and consistently increasing shareholders’ returns, increasing dividend payouts.
Nike downgraded its revenue expectations through its 2022 fiscal year over global Covid-19 related supply-chain issues.
NKE up +1.36%.
