- Nike tops 3Q profit forecasts
BEAVERTON, Ore. (AP) _ Nike Inc. (NKE) on Tuesday reported fiscal third-quarter profit of $1.14 billion.
On a per-share basis, the Beaverton, Oregon-based company said it had net income of 68 cents.
The results beat Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The athletic apparel maker posted revenue of $8.43 billion in the period, falling short of Street forecasts. Twelve analysts surveyed by Zacks expected $8.45 billion.
Nike shares have climbed 14 percent since the beginning of the year, while the Standard & Poor's 500 index has increased roughly 5 percent. In the final minutes of trading on Tuesday, shares hit $58.01, a drop of 10 percent in the last 12 months.
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