Nike (NKE) reported fiscal first quarter results after the bell on Thursday that topped Wall Street’s estimates for gross margins and earnings per share while showing less of a slowdown than expected in the wholesale division of its business.
The retailer’s stock rallied more than 9%, extending gains throughout the company’s earnings call as executives stressed strength in the consumer and eased worries about any potential slowdown in Greater China.
“We continue to see consumer demand for our brands and for our products to be very, very strong,” Nike CFO Matthew Friend said on the company’s earnings call. “The consumer is proving to be resilient.
Here’s how Nike’s results stacked up against Wall Street analyst expectations, according to Bloomberg consensus estimates:
Revenue: $12.94 billion vs. $12.99 billion (est.) and $12.69 billion (same period year prior)
Adj. earnings per share (EPS): $0.94 vs. $0.75 (est.) and $0.93 (same period year prior)
Gross margin estimate:…
2023-09-28 17:27:21
Original from finance.yahoo.com