Nike Jumps After Q4 Results Top Estimates (NKE)
Leading global athletic apparel company Nike (NYSE: NKE) released its fiscal fourth-quarter earnings results after the closing bell on Thursday.
Beaverton, Oregon-based Nike reported earnings per share and revenue that was above analysts' consensus estimates. In late trading, the stock was last up around 3 percent to $64.18. During the regular trading session, Nike shares closed up 0.76 percent to $62.32. The 52-week high in the stock is just above at $63.25.
"Fiscal 2013 was a great year for NIKE, driven by our innovative products and the power of our brands,” said Mark Parker, President and CEO of NIKE, Inc. “And we're excited about what lies ahead. We have the best leadership team in the industry and a deep innovation pipeline. Both are aligned against our biggest opportunities to drive growth, manage risk and drive long-term shareholder value."
Nike reported net income from continuing operations of $696 million or $0.76 per share, compared to $559 million or $0.60 per share, in last year's corresponding period. This beat analysts' consensus EPS estimates of $0.74 by two cents.
Revenue in the period rose 7 percent to $6.70 billion from $6.24 billion a year ago. This also came in ahead of analysts' consensus revenue estimates of $6.64 billion.
Gross margin in the quarter was up 110 basis points to 43.9 percent.
Year-to-date, Nike has been outperforming the S&P 500, adding almost 21 percent as of the close of trading on Thursday.
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