Nike Inc. (NKE Quick QuoteNKE - Free Report) just reported is fiscal 2016 fourth quarter results, posting earnings of $0.49 per share on revenues of $8.24 billion.

Q4 diluted earnings per share came in at $0.49, beating the Zacks Consensus Estimate of $0.48 per share but staying flat in comparison to the prior year. Q4 revenues came in at $8.24 billion, just missing our consensus estimate of $8.261 billion and increasing 6% year-over-year (up 9% on a currency-neutral basis).

Revenues for the Nike brand were $7.7 billion, up 8% on a currency-neutral basis thanks to double-digit growth in Western Europe, Greater China, Emerging Markets, and Japan. The company saw strong growth in Sportswear, Global Football, and the Jordan brand.

Net income decreased 2% to $846 million as revenue growth was more than offset by lower gross margin, higher selling, administrative expenses, and a higher tax rate.

For fiscal 2016, diluted EPS rose 17% to $2.16 per share, while revenues increased 6% to $32.4 billion (up12% on a currency-neutral basis).

Check out Zacks’ own Dave Bartosiak discussing the athletic giant’s Q4 results:

NKE stock was down 7.16% as of 4:55 PM EST.

Currently, Nike sits at a Zacks Rank #4 (Sell), but may see a change following the release of its latest earnings results.

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