Nike Q1 Earnings Spotlight: EPS Beats As North American Sales Slide, Shares Move Higher
Portfolio Pulse from Adam Eckert
Nike Inc reported Q1 revenue of $12.939 billion, missing the consensus estimate of $12.98 billion. However, the company's earnings per share of 94 cents beat analyst estimates of 74 cents. North America sales were down 2% YoY, while sales in Greater China, Europe, Asia Pacific, and Latin America were up. Gross margin decreased to 44.2% and inventories were down 10% YoY. The company ended the quarter with $8.8 billion in cash, equivalents, and short-term investments.
September 28, 2023 | 8:36 pm
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Nike's Q1 revenue missed estimates but EPS beat expectations. Despite a decrease in North America sales, the company saw growth in other regions.
Nike's Q1 earnings report shows mixed results, with revenue missing estimates but EPS beating expectations. This could lead to increased investor confidence, potentially driving the stock price up in the short term.
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