Nike (NKE - Free Report) just released its fourth-quarter fiscal 2018 financial results, posting adjusted earnings of $0.69 per share and revenues of $9.79 billion.
Nike is currently a Zacks Rank #3 (Hold), which is subject to change based on today’s results. Shares of Nike are up 33.7% over the last year, but have slipped 1.2% during the last four weeks. The company’s stock did climb 0.49% on Thursday to hit $71.70 per share prior to the release of its quarterly earnings results.
Nike stock is currently up 5.27% to $75.48 per share in after-hours trading shortly after its earnings report was released.
Beat earnings estimates. The company posted adjusted earnings of $0.69 per share, beating the Zacks Consensus Estimate of $0.64 per share.
Beat revenue estimates. The company saw revenue figures of $9.79 billion, beating our consensus estimate of $9.39 billion.
Nike saw its quarterly revenues climb by roughly 13% from the year-ago period. Meanwhile, the sportswear giant’s North American sales popped 3% to hit $3.88 billion.
Investors should love to see this growth after Nike saw its North American sales slip in each of the last three quarters. Outside of North America, Nike once again saw its revenues jump by double digits in all three of biggest markets, with sales in Greater China up 35% to $1.47 billion.
Nike also announced a new four-year, $15 billion share repurchase plan of its Class B Common Stock, which will begin after the current $12 billion program is completed during fiscal 2019.
“Our new innovation is winning with consumers, driving significant momentum in our international geographies and a return to growth in North America,” CEO Mark Parker said in a statement. “Fueled by a complete digital transformation of our company end-to-end, this year set the foundation for Nike’s next wave of long-term, sustainable growth and profitability.”
Here’s a graph that looks at NKE’s Price, Consensus and EPS Surprise history:
Check back later for our full analysis on NKE’s earnings report!
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