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A woman carries Nike shopping bags at the Citadel Outlet Mall, as the global coronavirus disease (COVID-19) epidemic continues, in Commerce, California, United States, December 3, 2020.
Lucy Nicholson | Reuters
Nike reported quarterly sales and profits higher than analysts’ estimates on Friday, thanks to triple-digit online growth in North America and strong demand for its sneakers and workout clothes from Chinese consumers.
Its shares jumped more than 5% in after-hours trading.
Here’s how the company did in its fiscal second quarter, compared to what analysts expected, based on Refinitiv data:
- Earnings per share: 78 cents vs. 62 cents, expected
- Turnover: 11.24 billion dollars against 10.56 billion dollars expected
For the three-month period ended Nov. 30, Nike reported net income of $ 1.25 billion, or 78 cents per share, compared with $ 1.12 billion, or 70 cents per share, a year earlier. Analysts were claiming earnings of 68 cents per share.
Revenue increased 9% year over year to $ 11.24 billion, from $ 10.33 billion a year ago. It was better than the $ 10.56 billion expected by analysts.
Nike said its digital sales for its eponymous brand rose 84% in the quarter as more shoppers visited its website during the pandemic to shop for clothing and athletic shoes to maintain their sales. fitness routines and their personal health.
Nike shares have jumped more than 37% this year as the market closed on Friday. The company has a market capitalization of $ 215.5 billion.
Find Nike’s full press release on the results here.
This story is developing. Please come back for updates.
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