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Nike Inc. shares
NKE + 0.62%
The decline of more than 2% recorded during the extended session on Tuesday after the retailer released in the first quarter of fiscal 2019 exceeded expectations, but indicated that its spending had increased. Nike earned $ 1.1 billion, or 67 cents a share, from $ 950 million last year. Revenues rose 10% to $ 9.9 billion from $ 9.1 billion a year ago. Analysts surveyed by FactSet were expecting Nike to report a profit of 62 cents per share on revenue of $ 9.9 billion. Selling and administrative expenses increased 7% to $ 3.1 billion, including $ 964 million in demand generation, up 13%. "We are achieving stronger global growth and profitability than expected for this year," Chief Financial Officer Andy Campion said in a statement. Nike shares closed the session up 0.6%.
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