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3/21, 9:16 PM (Source: TeleTrader)
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Nike reports Q3 revenue of $9.6B, up 7%

American footwear manufacturing company Nike announced on Thursday its revenue in the third quarter of fiscal 2019 stood at $9.6 billion, marking a 7% annual increase driven by "broad-based strength across all geographies," especially in China, as well as Nike direct which was led by digital. Of that, the Nike brand generated $9.1 billion, while Converse revenues amounted to $463 million.

In the same quarter, diluted earnings per share (EPS) were $0.68, driven by strong revenue growth and a margin expansion of 130 basis points, but partially offset by higher selling and administrative prices. Meanwhile, net income came in at $1.1 billion

"In Q3, our team once again drove strong, healthy growth across NIKE’s complete portfolio," said Mark Parker, Nike's Chairman, president and CEO. "Our business momentum is being accelerated by our ability to scale innovation at a faster pace and expand new digital consumer experiences around the world," he added.

Breaking the News / FH