Nike Stock Reaches Highs on Positive Q1 Earnings
Nike has by far topped investor expectations with its first quarter earnings Tuesday, leading its shares to gains.
The brand announced earnings per share of 95 cents on revenue of $10.59 billion, way above analyst expectations of 44 cents on revenue of $8.89 billion.
The sportswear brand’s direct sales were reported to be $3.7 billion - a tremendous growth of 12%.
"Our first quarter revenue performance was impacted by strong NIKE Brand digital growth of 82 percent, offset by lower revenue in our wholesale business and NIKE-owned stores”, the company commented.
Following the report, Nike shares were seen up 8%, adding to the brand’s overall successful stock performance since the beginning of the year. Since year’s start, Nike shares have grown over 15%.
*The products advertised are only available to clients under Fondex Limited Seychelles (SDL No: SD037).
Cookies on Fondex
These cookies fall under the following categories: essential, functional and marketing cookies. Marketing cookies may also include third-party cookies.
You can customize your selection of which cookies you want to accept.
These cookies are necessary for the website to function correctly and cannot be switched off.
Functional cookies allow the website to remember users' preferences and the choices you make on the website such as username, region, and language.
The Company would like to inform you that it will terminate its operations under the "Fondex" brand by 30th of December 2022. If you wish to open a trading account, kindly visit topfx.com.sc