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By
Reuters
Published
Sep 25, 2018
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Nike quarterly revenue beats estimates

By
Reuters
Published
Sep 25, 2018

Nike Inc edged past analysts’ estimates for first-quarter revenue on Tuesday as new launches of footwear and apparel fueled sales in North America.


Nike beat quarterly revenue estimates with a total of$9.95 billion. - Instagram: @nikerunning


The company, which came out with a controversial ad campaign featuring former NFL player Colin Kaepernick earlier this month, was trading down nearly 2 percent at $83.30 after the bell.

Quarterly sales rose 6 percent in North America, its second straight rise, showing signs of recovery after competition from rivals Adidas AG and Under Armour eroded sales in three out of the last four quarters.

Revenue rose 9.7 percent to $9.95 billion, beating estimates of $9.94 billion, according to Thomson Reuters I/B/E/S.

The company’s net income rose to $1.09 billion, or 67 cents per share, in the first quarter ended Aug. 31, from $950 million, or 57 cents per share, a year earlier.

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