
Nike (NKE) Stock Gains in After-Hours Trading on Earnings Beat
NEW YORK (TheStreet) -- Nike (NKE) - Get Report stock is advancing by 5.72% to $121.36 in after-hours trading on Thursday, after the company posted earnings results that surpassed analysts' estimates for the first quarter of fiscal 2016.
The company reported earnings of $1.34 per share for the quarter ended August 31, a 23% gain over the $1.09 per share reported for the same period last year.
Revenue increased 5% year-over-year to $8.41 billion, compared with $7.98 billion last year.
Analysts surveyed by Thomson Reuters were expecting the company to report earnings of $1.19 per share on revenue of $8.21 billion for the quarter.
Sales saw a 30% boost in the greater China region with revenue totaling $886 million, while North American sales increased 8% to $3.8 billion.
"Fiscal 2016 is off to a great start," CEO Mark Parker said in a statement. "We're well-positioned to continue to deliver long-term growth that is both sustainable and profitable."
Separately, TheStreet Ratings team rates NIKE INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate NIKE INC (NKE) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. "
You can view the full analysis from the report here: NKE
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