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World NewsNike (NKE) Q2 2022 earnings

Nike (NKE) Q2 2022 earnings

Pedestrians carrying Nike and Allbirds procuring luggage within the SoHo neighborhood of New York, on Sunday, Oct. 24, 2021.

Nina Westervelt | Bloomberg | Getty Images

Nike shares climbed round 3% in prolonged buying and selling Monday after the sneaker maker reported fiscal second-quarter earnings and gross sales that topped analysts’ expectations, regardless of ongoing provide chain pressures.

Chief Executive Officer and President John Donahoe stated the retailer is in a “much stronger competitive position” than it was pre-pandemic.

Here’s how Nike did within the three-month interval ended Nov. 30 in contrast with what analysts have been anticipating, utilizing Refinitiv estimates:

  • Earnings per share: 83 cents vs. 63 cents anticipated
  • Revenue: $11.36 billion vs. $11.25 billion anticipated

Nike reported internet earnings of $1.34 billion, or 83 cents a share, up from $1.25 billion, or 78 cents per share, a 12 months earlier. That topped analysts’ expectations for earnings of 63 cents a share.

Revenue rose 1% to $11.36 billion from $11.24 billion. That was forward of estimates for $11.25 billion.

Sales in North America, Nike’s greatest market, climbed 12%, representing the very best development of all geographies.

Find the total earnings press launch from Nike here.

This story is creating. Please examine again for updates.

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