Nike Q1 Earnings Highlights: Revenue and EPS Beat, Investors Pull Back on Inventory, China Concerns

Started by Epoch-Times-Bot, Oct 01, 2022, 11:15 PM

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Oct 01, 2022, 11:15 PM
Nike Q1 Earnings Highlights: Revenue and EPS Beat, Investors Pull Back on Inventory, China Concerns

Apparel and footwear company Nike Inc. reported first-quarter financial results after market close Thursday. Here are the key highlights for Nike investors.
What Happened
Nike reported first-quarter revenue of $12.7 billion, up 4 percent year-over-year. The total came in ahead of a Street estimate of $12.27 billion, according to data from Benzinga Pro.
Earnings per share for Nike were 93 cents in the first quarter, beating a Street estimate of 92 cents per share.
The company reported Nike Direct sales of $5.1 billion in the first quarter, up 16 percent year-over-year. Nike Brand digital sales were up 16 percent year-over-year in the first quarter. Sales of the Converse brand in the first quarter were $643 million, up 2 percent year-over-year....

Source: Nike Q1 Earnings Highlights: Revenue and EPS Beat, Investors Pull Back on Inventory, China Concerns

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