Nike shares surged more than 13% after the sports giant reported better than expected quarterly results on Tuesday. Meanwhile, apparel maker revenue slipped 0.6% to $10.59 billion from $10.66 billion a year earlier but better than the $9.15 billion forecast by analysts. The company said its "Nike Brand" digital sales grew 82% during the quarter, including triple-digit growth in Europe, the Middle East and Africa. Overall, revenue has returned to growth in Europe, Middle East, Africa, and China.
- Earnings per share (EPS) $.95 vs. $.47 expected
- Revenue $10.59 billion vs. $9.15 billion expected
Nike shares surged to an all-time high on Wednesday following the earnings report and the stock up 15% for the year.
Read more- https://gulfbrokers.com/en/nike-shares-spiked-after-online-sales-grew-82