Nike Inc. recently reported its third-quarter earnings showed a decrease from the previous year, but still managed to exceed Wall Street projections.
The company's net income amounted to $1.17 billion or $0.77 per share. This is slightly less compared to $1.24 billion or $0.79 per share during the same period last year.
The average expectation of analysts was that the company would earn $0.68 per share, as gathered by Thomson Reuters. These estimates generally disregard any exceptional items.
As for the company's revenue, there was a slight increase of 0.3%, climbing to $12.43 billion from $12.39 billion the previous year.
Here's a quick overview of Nike Inc.'s earnings as per the general accepted accounting principles (GAAP):
- Third-quarter earnings: $1.17 billion, down from $1.24 billion last year
- Third-quarter earnings per share (EPS): $0.77, slightly less than last year's $0.79
- Third-quarter revenue: $12.43 billion, a slight increase from $12.39 billion the previous year.
