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    Nike (NKE) First Quarter 2022 Revenue

    Pedestrians pass by the Nike Store and its logo, an American multinational sports clothing brand found in Hong Kong.

    Budrul Chukrut | LightRocket | Getty Images

    Nike Stocks fell in an extended deal on Thursday after a sneaker giant reported lower-than-expected quarterly earnings due to softening demand in North America.

    Its inventory has recently dropped by about 2.5%.

    Based on an analyst survey by Refinitiv, here’s how Nike behaved compared to what Wall Street expected in the first quarter.

    • Earnings per share: $ 1.16 vs. $ 1.11 forecast
    • Revenue: $ 12.25 billion vs. $ 12.46 billion forecast

    Net income for the three months ended August 31 increased to $ 1.87 billion ($ 1.16 per share) compared to $ 1.52 billion ($ 95 per share) in the year-ago quarter. This exceeded analysts’ expectations of $ 1.11 per share.

    Sales increased from $ 10.59 billion in the previous year to $ 12.25 billion. That was below the $ 12.46 billion forecast.

    Greater China sales increased 11%, the smallest increase in the region. The region has been one of Nike’s largest revenue drivers in the last few quarters.

    North American revenue was up 15% to $ 4.88 billion. This didn’t reach the $ 5.05 billion that FactSet polled analysts were looking for.

    Nike’s share price has risen about 13% year-to-date at the end of the market on Thursday, but has fallen about 9% from its all-time high in early August. The company has a market capitalization of $ 252.6 billion.

    This story is developing. Please check for updates.

    Find the full press release from Nike here..

    Nike (NKE) First Quarter 2022 Revenue

    Source link Nike (NKE) First Quarter 2022 Revenue

    The post Nike (NKE) First Quarter 2022 Revenue appeared first on Eminetra.

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