NIKE DELIVERS STRONG SECOND-QUARTER EARNINGS
Footwear giant Nike delivered better than expected second-quarter earnings of 90 cents per share, up from 74 cents a share in the year-earlier period. Most analysts expected earnings in the 85-88 cents per share range for the period ending November 30, 2015.
The company reported revenue of $7.69 billion, below analysts’ expectations, but beat all estimates on future worldwide orders by registering a 20 percent gain.
Nike is currently the top performer on the Dow Jones Industrial Average for 2015. It closed at 131.85 on Tuesday, less than four points below its 52-week high, and the stock rose to 136 in after-hours trading.
“Our powerful global portfolio of businesses, combined with strong financial discipline, continues to drive significant shareholder value,” said Mark Parker, Nike’s president and CEO, in a release. “We see tremendous opportunity ahead as we enter an Olympic and European Championships year with a full pipeline of inspiring innovation for athletes everywhere.”
