When Nike Inc. (NYSE: NKE) released its fiscal second-quarter financial report after the markets closed on Thursday, it posted $0.46 in earnings per share (EPS) and $8.55 billion in revenue. That compares with consensus estimates from Thomson Reuters of $0.40 in EPS and revenue of $8.4 billion. In the same period of last year, the apparel giant said it had EPS of $0.50 and $8.18 billion in revenue.
In terms of its regional business segments Nike reported:
- North America revenues dropped 5% to $3.49 billion.
- Europe, Middle East & Africa revenues rose 19% to $2.13 billion.
- Greater China revenues rose 16% to $1.22 billion.
- Asia Pacific & Latin America revenues rose 6% to $1.27 billion.
Revenues for Converse were $408 million, down 4% on a currency-neutral basis, as international growth was more than offset by declines in North America.
Total Nike Footwear revenues increased 4% to $5.03 billion and total Apparel revenues grew 9% to $2.76 billion.
On the books, Nike’s cash, cash equivalents and short-term investments totaled $6.4 billion at the end of the quarter, up from $5.9 billion at the end of the same period from last year.
Mark Parker, board chair, president and chief executive of Nike, commented:
This quarter, led by our Consumer Direct Offense, we accelerated international growth and built underlying momentum in our domestic business. For the back half of the fiscal year, NIKE’s innovation line-up is as strong as it’s ever been and we’ll continue to actively shape retail through new differentiated experiences.
Shares of Nike closed Thursday at $64.77, with a consensus analyst price target of $62.47 and a 52-week range of $50.35 to $65.19. Following the announcement, the stock was down about 2.5% at $63.20 in early trading indications Friday.
Take Charge of Your Retirement In Just A Few Minutes (Sponsor)
Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s made it easier than ever for you to connect with a vetted financial advisor.
Here’s how it works:
- Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
- Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
- Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.