Nike stock (NYSE:NKE) took a hit late in the day Tuesday as the company reported its latest quarterly earnings results, which came in ahead of what Wall Street analysts were projecting but the brand has alienated part of its fanbase lately.
The athletics apparel maker said that for its first quarter of fiscal 2019, it brought in adjusted earnings of 67 cents per share. Analysts polled by Thomson Reuters were calling for the company to rake in earnings of 63 cents per share on an adjusted basis.
Nike added that for the period, it impressed on the revenue front as well, amassing sales that tallied up to $9.95 billion. The Wall Street consensus estimate was forecasting the sports apparel brand to reel in revenue of $9.94 billion for its first quarter.
The company has faced a lot of controversy lately, including the launch of its Colin Kaepernick ad campaign, which garnered some praise from its politically left-leaning fans, while alienating those who are against NFL players and other professional athletes kneeling during the national anthem.
NKE shares were gaining about 0.6% during regular trading hours on Tuesday as the company was readying itself to report its latest quarterly earnings and sales figures, which topped estimates but Nike stock still fell 0.9% after hours due to its polarizing Colin Kaepernick marketing campaign.
