Just Do It – Nike latest results announced

Nike Inc. (NKE) reported fiscal 2022 financial results for its third quarter ended February 28, 2022.

The US sporting goods giant reported revenue of $10.871 billion (up by 5% year-over-year), beating analyst estimates of $10.598 billion.

Earnings per share also beat Wall Street expectations at $0.87 per share vs. $0.71 per share expected.

John Donahoe, President and CEO of Nike commented on the latest financial results: “NIKE’s strong results this quarter show that our Consumer Direct Acceleration strategy is working, as we invest to achieve our growth opportunities.”

“Fueled by deep consumer connections, compelling product innovation and an expanding digital advantage, we have the right playbook to navigate volatility and create value through our relentless drive to serve the future of sport,” he added.

Nike Inc. chart

Share price of Nike was little changed at the end of trading day on Monday, down by 0.80% at $129.50 per share. The stock rose in the after-hours trading following the latest results – up by around 6%.

Here is how the stock has performed in the past year –

• 1 Month: -8.93%
• 3 Month: -17.07%
• Year-to-date: -21.89%
• 1 Year: -5.84%

Nike is the 54^th largest company in the world with a market cap of $205.86 billion.

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Sources: Nike Inc., TradingView, MetaTrader 5, CompaniesMarketCap