NEW YORK (TheStreet) -- Nike (NKE) - Get Report stock is retreating 5.74% to $50.04 in after-hours trading on Tuesday after the sports footwear and apparel maker delivered disappointing fiscal 2016 fourth quarter revenue.
The Beaverton, OR-based company reported revenue of $8.24 billion for the quarter ended May 31, up 6% year over year, but below Wall Street estimates of $8.28 billion.
Earnings of 49 cents per share topped estimates of 48 cents per share and were unchanged compared with the same period last year.
Revenue for Nike-branded products increased 8% on a constant currency basis to $7.7 billion, driven by double-digit growth in several international markets, including Greater China and Western Europe. Converse revenue was up 18% to $513 million, also on a constant currency basis.
Orders for Nike products for delivery between June and November increased 8% to $14.9 billion as of May 31. On a constant currency basis, orders rose 11%.
Separately, Nike has a "buy" rating and a letter grade of B at TheStreet Ratings because of the company's impressive record of earnings per share growth, compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity.
You can view the full analysis from the report here: NKE
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.