3/21, 9:17 PM (Source: TeleTrader)
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Nike revenues up 14% to $12.4 billion in Q3

Nike Inc. said on Tuesday that its revenues for the third quarter of fiscal 2023 surged 14% year on year to reach $12.39 billion, topping analysts expectations.

The company reported that net income dropped 11% to $1.2 billion in the same quarter. On the other hand, diluted earnings per common share fell 9% to $0.79. Nike also declared dividends per common share of $0.34 for the three months ended February 28, 2023.

"NIKE's strong results in the third quarter offer continued proof of the success of our Consumer Direct Acceleration strategy," said John Donahoe, President and CEO of NIKE, Inc. "Fueled by compelling product innovation, deep relationships with consumers and a digital advantage that fuels brand momentum, our proven playbook allows us to navigate volatility as we create value and drive long-term growth." Nike shares responded positively in after-hours trading, rising 3.26% to $129.67 at 4:25 am ET.

Baha Breaking News (BBN) / JG