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Nike (NKE) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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Nike (NKE - Free Report) reported $12.94 billion in revenue for the quarter ended August 2023, representing a year-over-year increase of 2%. EPS of $0.94 for the same period compares to $0.93 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $12.95 billion, representing a surprise of -0.09%. The company delivered an EPS surprise of +27.03%, with the consensus EPS estimate being $0.74.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Nike performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Geographic Revenue- North America: $5.42 billion compared to the $5.37 billion average estimate based on seven analysts. The reported number represents a change of -1.6% year over year.
Geographic Revenue- Greater China: $1.74 billion versus the seven-analyst average estimate of $1.85 billion. The reported number represents a year-over-year change of +4.8%.
Geographic Revenue- Asia Pacific & Latin America: $1.57 billion compared to the $1.60 billion average estimate based on seven analysts. The reported number represents a change of +2.4% year over year.
Geographic Revenue- Europe, Middle East and Africa: $3.61 billion versus $3.49 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +8.3% change.
Geographic Revenue- Greater China- Equipment: $47 million versus $50.76 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -4.1% change.
Revenue- Total Nike Brand: $12.35 billion versus $12.32 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +2.5% change.
Revenue- Converse: $588 million versus the seven-analyst average estimate of $646.84 million. The reported number represents a year-over-year change of -8.6%.
Revenue- Global Brand Divisions: $13 million versus $14.23 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -7.1% change.
Revenue- Corporate: -$2 million compared to the -$1.04 million average estimate based on six analysts. The reported number represents a change of -50% year over year.
Revenue- Footwear: $8.42 billion versus the four-analyst average estimate of $8.33 billion. The reported number represents a year-over-year change of +3.8%.
Revenue- Apparel: $3.39 billion versus the four-analyst average estimate of $3.48 billion. The reported number represents a year-over-year change of -1.3%.
Revenue- Equipment: $531 million compared to the $486.61 million average estimate based on four analysts. The reported number represents a change of +9.3% year over year.
Shares of Nike have returned -12.4% over the past month versus the Zacks S&P 500 composite's -2.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Nike (NKE) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
Nike (NKE - Free Report) reported $12.94 billion in revenue for the quarter ended August 2023, representing a year-over-year increase of 2%. EPS of $0.94 for the same period compares to $0.93 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $12.95 billion, representing a surprise of -0.09%. The company delivered an EPS surprise of +27.03%, with the consensus EPS estimate being $0.74.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Nike performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Geographic Revenue- North America: $5.42 billion compared to the $5.37 billion average estimate based on seven analysts. The reported number represents a change of -1.6% year over year.
- Geographic Revenue- Greater China: $1.74 billion versus the seven-analyst average estimate of $1.85 billion. The reported number represents a year-over-year change of +4.8%.
- Geographic Revenue- Asia Pacific & Latin America: $1.57 billion compared to the $1.60 billion average estimate based on seven analysts. The reported number represents a change of +2.4% year over year.
- Geographic Revenue- Europe, Middle East and Africa: $3.61 billion versus $3.49 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +8.3% change.
- Geographic Revenue- Greater China- Equipment: $47 million versus $50.76 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -4.1% change.
- Revenue- Total Nike Brand: $12.35 billion versus $12.32 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +2.5% change.
- Revenue- Converse: $588 million versus the seven-analyst average estimate of $646.84 million. The reported number represents a year-over-year change of -8.6%.
- Revenue- Global Brand Divisions: $13 million versus $14.23 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a -7.1% change.
- Revenue- Corporate: -$2 million compared to the -$1.04 million average estimate based on six analysts. The reported number represents a change of -50% year over year.
- Revenue- Footwear: $8.42 billion versus the four-analyst average estimate of $8.33 billion. The reported number represents a year-over-year change of +3.8%.
- Revenue- Apparel: $3.39 billion versus the four-analyst average estimate of $3.48 billion. The reported number represents a year-over-year change of -1.3%.
- Revenue- Equipment: $531 million compared to the $486.61 million average estimate based on four analysts. The reported number represents a change of +9.3% year over year.
View all Key Company Metrics for Nike here>>>Shares of Nike have returned -12.4% over the past month versus the Zacks S&P 500 composite's -2.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.