Nike Blows Past Analysts’ Estimates, Sending Stock Up High Single Digits
September 22, 2020
Shares for Nike Inc. are up in the high single digits at market close on Tuesday after the sportswear giant posted better-than-expected earnings and sales. For the three months ended Aug. 31, Nike’s posted diluted earnings per share of 95 cents — up 10% from the prior year and trouncing analysts’ estimates of earnings of 47 cents per share. Revenues, although down 1%, amounted to $10.6 billion, compared with Wall Street’s forecasts of $9.14 billion. Read more on Footwear News.