Nike Q3 earnings up 35 per cent
Athletic shoe and apparel giant Nike Inc said on Wednesday strong sales overseas and beneficial currency exchanges pushed its third-quarter profit up more than 30 percent.
By Agencies |
PORTLAND, OREGON: Athletic shoe and apparel giant Nike Inc said on Wednesday strong sales overseas and beneficial currency exchanges pushed its third-quarter profit up more than 30 percent.
The Beaverton, Oregon-based company said its net income grew to nearly $464 million (euro295.69 million), or 92 cents per share, up from roughly $351 million (euro223.68 million), or 68 cents per share, in the same quarter of the prior year.
Revenue grew 16 percent to $4.5 billion (euro2.87 billion), up from $3.9 billion (euro2.49 billion).
The results exceeded Wall Street's projections. Thomson Financial said analysts had expected the company to earn 81 cents per share on revenue of $4.36 billion (euro2.78 billion).
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