A man walks in front of a Nike product display in New York City on February 22, 2021.
John Smith | Corbis News | Getty Images
Nike posted mixed quarterly results on Thursday as sales fell on congestion in US ports causing inventory delays and stores in Europe were temporarily closed.
The shares fell around 1% in after-hours trading.
Here’s how Nike performed in the quarter ended February 28, compared to analyst expectations based on a survey by Refinitiv:
- Earnings per share: 90 cents compared to 76 cents expected
- Revenue: $ 10.36 billion versus $ 11.02 billion expected
Nike reported net income of $ 1.45 billion, or 90 cents per share, compared to $ 847 million, or 53 cents per share, last year. That was better than the 76 cents per share analysts had expected based on refinitive data.
Total revenue increased from $ 10.1 billion a year ago to $ 10.36 billion. That was less than the $ 11.02 billion forecast by analysts.
According to Nike, direct customer business grew 20% year over year to $ 4 billion. And online sales rose 59%.
Nike stock is up more than 110% in the past 12 months at Thursday’s close. It has a market capitalization of more than $ 225 billion.
The full press release from Nike can be found here.
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