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Nike Surpasses Q1 Earnings Estimates, Shares Rise in After-Hours Trading
Nike Surpasses Q1 Earnings Estimates, Shares Rise in After-Hours Trading
20
3
BTCCSquare news:
Nike (NKE) shares climbed in extended trading following a stronger-than-expected first-quarter earnings report. The athletic apparel giant posted earnings per share of $0.49, significantly outpacing the $0.27 analyst consensus. Revenue reached $11.7 billion, a 1% year-over-year increase that exceeded the $10.99 billion forecast.
While direct revenues declined 4% to $4.5 billion and digital sales fell 12%, footwear remained the dominant revenue driver at $7.41 billion. The company returned $714 billion to shareholders through dividends and buybacks, continuing its $18 billion repurchase program initiated in 2022.
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