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Ryan McQueeney

Nike (NKE) Posts Q1 Earnings and Revenue Beats, Cites "Incredible Summer of Sport"

NKE

Trades from $3

Nike (NKE - Free Report) just released its first-quarter fiscal 2017 earnings results, posting earnings of 73 cents per share and revenue of $9.1 billion.   

Currently, NKE has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

Nike:

1. Beat earnings estimates. The company posted earnings of$0.73, smashing our Zacks Consensus Estimate of $0.56.

2. Beat revenue estimates. The company saw revenue figures of $9.1 billion, cruising past our estimate of $8.85 billion.  

3. Revenues for the NIKE Brand were $8.5 billion, up 10% on a currency-neutral basis driven by double-digit growth in Greater China, Western Europe, Emerging Markets, Central & Eastern Europe and Japan, including strong growth in Sportswear, Running and the Jordan Brand.

4. “Fueled by an incredible summer of sport, NIKE delivered strong global growth-and led the industry through disruptive innovation,” said CEO Mark Parker. “Q1 also showed how we’re amplifying every category through sports style innovation, transforming retail by connecting the digital and physical experience and ushering in a new Era of Personalized Performance - through product, consumer connections and our supply chain.

5. NKE was down 4.23%, to $53:00 as of 4:30 p.m. EST in after-hours trading shortly after its earnings report was released.

Here’s a graph that looks at Nike’s latest earnings performance:

NIKE INC-B Price, Consensus and EPS Surprise

NIKE INC-B Price, Consensus and EPS Surprise | NIKE INC-B Quote

Nike, Inc.'s principal business activity involves the design, development and worldwide marketing of high quality footwear, apparel, equipment, and accessory products. NIKE is the one of the largest sellers of athletic footwear and athletic apparel in the world.

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