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Nike Earnings: NKE Stock Dips 1% Despite Beatings Estimates for Q2

NKE beat EPS estimates by 12 cents

Nike (NYSE:NKE) earnings for the athletic wear company’s fiscal second quarter of 2020 have NKE stock down in after-hours trading on Thursday. This comes after reporting adjusted earnings per share of 70 cents on revenue of $10.33 billion. For comparison, Wall Street was expecting 58 cents per share and revenue of $10.09 billion.

Nike Earnings: NKE Stock Dips 1% Despite Beatings Estimates for Q2
Source: TY Lim /

Let’s take a more thorough look at the most recent Nike earnings report.

  • Adjusted EPS is up 34.62% from the 52 cents reported during the same time last year.
  • Revenue comes in 10.25% higher compared to $9.37 billion in the fiscal second quarter of 2019.
  • The Nike earnings report also includes a net income of $1.12 billion.
  • That’s a 32.23% increase from the company’s net income of $847 million in the same period of the year prior.

Mark Parker, Chairman, President and Chief Executive Officer of Nike, has this to say about the NKE stock earnings report.

“In Q2, NIKE has proven again that innovation is our greatest competitive edge – turning athlete insights into breakthrough product and digital services, as we offer more choice to more consumers at an accelerated pace. Our entire NIKE team is fueling our current momentum, and I’ve never been more optimistic about the future of this company.”

The Nike earnings report will be covered in more detail by the company during its conference call. This call will take place at 5:00 p.m. Eastern Time. It will be available via webcast on the company’s website. The recording will remain on the website until Jan. 9, 2020.

NKE stock was down 1.13% after markets closed Thursday. The stock was up slightly when markets closed.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media,

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