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World’s largest sporting goods company, Nike Inc. (NYSE:NKE) reported fiscal 2023 financial results for its third quarter after the closing bell in the US on Tuesday.
Nike beat both revenue and earnings per share (EPS) estimates for the quarter ending February 28, 2023.
Revenue reported at $12.4 billion (up by 14% year-over-year) vs. $11.482 billion estimate.
EPS reported at $0.79 per share (down by 9% year-over-year) vs. $0.555 per share expected.
CEO commentary
“NIKE’s strong results in the third quarter offer continued proof of the success of our Consumer Direct Acceleration strategy,” said John Donahoe, CEO of the company said in a press release.
“Fueled by compelling product innovation, deep relationships with consumers and a digital advantage that fuels brand momentum, our proven playbook allows us to navigate volatility as we create value and drive long-term growth,” Donahoe concluded his statement to investors.
Stock reaction
The stock rose by 3.64% on Tuesday, trading at $125.50 a share.
Share price fell by around 2% in the after-hours.
Stock performance
Nike stock price targets
Nike is the 49th largest company in the world with a market cap of $194.76 billion.
You can trade Nike Inc. (NYSE:NKE) and many other stocks from the NYSE, NASDAQ, HKEX, ASX, LSE and DE with GO Markets as a Share CFD.
Sources: Nike, TradingView, MarketWatch, MetaTrader 5, Benzinga, CompaniesMarketCap
Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.
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