NEW YORK (TheStreet) -- Nike (NKE) shares are down 3.8% to $93.39 in trading on Friday after the shoe apparel company reported its second quarter earnings results after the closing bell yesterday.
The Beaverton, OR-based company reported second quarter earnings of $655 million, or 74 cents per diluted share, on a 15% jump in revenue to $7.38 billion. Analysts were expecting the company to report earnings of 70 cents per diluted share on revenue of $7.1 billion.
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Nike shares are dropping today despite the earnings beat however as the company reported a dip in Japanese futures orders from December through April, even though the company reported a 7% worldwide increase in futures orders.
TheStreet has further coverage of Nike's results here.
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, growth in earnings per share, increase in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows weak operating cash flow."