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For the quarter, diluted earnings per share fell to $2.57 from $2.85 a year earlier. Revenue for the first nine months of the year grew by 11% to $38.392 billion.
Nike's fiscal third quarter net income of $1.24 billion was down 11% from the same period in 2017. Analysts expected $0.55 in diluted profits per share, but in fact they were $0.79, down from $0.87 in the prior year. The company's three-month sales grew by 14% year over year to $12.39 billion, beating analyst expectations ($11.47 billion).
In comparison to the previous quarter's estimate of 4-6%, the company now anticipates revenue growth of 7-9% for the current fiscal year. The business anticipates revenue increase of up to 3% in the fourth quarter. Additionally, Nike expects a decline in gross income for the fiscal year.
source: reuters.com
Nike's fiscal third quarter net income of $1.24 billion was down 11% from the same period in 2017. Analysts expected $0.55 in diluted profits per share, but in fact they were $0.79, down from $0.87 in the prior year. The company's three-month sales grew by 14% year over year to $12.39 billion, beating analyst expectations ($11.47 billion).
In comparison to the previous quarter's estimate of 4-6%, the company now anticipates revenue growth of 7-9% for the current fiscal year. The business anticipates revenue increase of up to 3% in the fourth quarter. Additionally, Nike expects a decline in gross income for the fiscal year.
source: reuters.com