6/27, 10:16 PM (Source: TeleTrader)
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Nike B+2.78%

Chart for: Nike Inc

Nike's Q4 revenues at $12.2B, down 1% YoY

Nike Inc. revealed on Monday that its revenues reached $12.2 billion in the fourth quarter of fiscal 2022, falling 1% compared to the same period a year prior. Nevertheless, the figure slightly beat analysts' expectations.

In the three months ending with May 31, 2022, the company's diluted earnings per common share stood at $0.90, down from $0.93 per share a year ago. Net income reached $1.44 billion, declining 5% compared to the previous year's fourth trimester.

For the entire fiscal year 2022 revenues were 5% higher, reaching $46.71 billion, while diluted earnings per common share also rose 5% to $3.75. Net income grew 6% from 2021 to $6.05 billion in 2022.

"In June 2022, the Board of Directors authorized a new four-year, $18 billion program to repurchase shares of NIKE's Class B common stock. The Company's new program will replace the current $15 billion share repurchase program, which will be terminated in fiscal year 2023," the report read. Nike's stock was up 1.52% in after-hours trading following the release of the earnings report.

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