Nike’s sales in China slowed during the holiday quarter, but the company exceeded expectations in North America and overall revenue, thanks to better-than-expected growth and price adjustments.
For the fiscal 2024 third quarter, Nike reported earnings per share of 77 cents, surpassing the anticipated 74 cents, and revenue of $12.43 billion, beating the expected $12.28 billion.
The company’s net income for the three-month period ending Feb. 29 was $1.17 billion, or 77 cents per share, compared to $1.24 billion, or 79 cents per share, a year earlier. Excluding 21 cents per share related to restructuring charges, earnings per share would have been 98 cents.
Sales increased to $12.43 billion from $12.39 billion in the previous year. In North America, sales grew by approximately 3% to $5.07 billion, exceeding the estimated $4.75 billion.
2024-03-21 17:40:25
Source from www.cnbc.com