Nike on Thursday reported quarterly earnings that missed analysts’ expectations but revenues that beat.
Shares initially fell more than 4% in after-hours trading but recently were only down about 1%.
It reported adjusted earnings per share of 62 cents on sales of $10.18 billion. Analysts were expecting the retailer to report earnings of 66 cents a share on revenues of $10.16 billion during the fiscal fourth quarter, according to average estimates compiled by Refinitiv.
Nike shares closed Thursday up a little more than 1%. The stock is up about 17% over the past 12 months, bringing the retailer’s market cap to roughly $131.2 billion. That’s much better than the S&P 500 Retail ETF (XRT), for comparison, which is down 14% from a year ago.
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