Nike Inc (NYSE:NKE) reported first-quarter financial results after the market close on Tuesday. Here’s a rundown of the report.
Q1 Earnings: Nike reported first-quarter revenue of $11.59 billion, missing analyst estimates of $11.65 billion. The athletic footwear and apparel company reported first-quarter earnings of 70 cents per share, beating analyst estimates of 52 cents per share.
Nike has now come up short of revenue estimates in four of the past five quarters, according to Benzinga Pro.
Total revenues were down 10% year-over-year. North America sales were down about 11%, Greater China sales were down about 4%, European sales fell 13% and Asia Pacific and Latin American sales were down 7%.
Nike Direct revenues were $4.7 billion in the quarter, ...
