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9/23, 10:18 PM (Source: TeleTrader)
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Nike B+0.90%

159.44
Chart for: Nike Inc

Nike Q1 revenue up 16% to $12.2B, misses target

Nike Inc. announced on Thursday its earnings results for the first fiscal quarter of 2022, reporting a revenue increase of 16% to $12.2 billion. In the quarter ending August 31, Nike's direct sales surged 28% to $4.7 billion, with diluted earnings per share jumping 22% to $1.16.

"Nike's strong results this quarter are continued proof of our deep consumer connections, unrelenting innovation pipeline and a digital advantage that fuels our brand momentum. We have the right playbook to navigate macroeconomic dynamics, as we create value through our relentless drive to fuel the future of sport," CEO John Donahoe noted in the report.

The company's stocks tumbled 2.01% to sell for $156.76 per share in the after-hours trading following the earnings announcement.

Breaking the News / ND