WASHINGTON COUNTY (dpa-AFX) - Nike Inc (NKE) released earnings for its fourth quarter that increased from last year and beat the Street estimates.
The company's bottom line came in at $1.50 billion, or $0.99 per share. This compares with $1.03 billion, or $0.66 per share, in last year's fourth quarter.
Excluding items, Nike Inc reported adjusted earnings of $1.01 per share for the period.
Analysts on average had expected the company to earn $0.83 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 1.7% to $12.61 billion from $12.83 billion last year.
Nike Inc earnings at a glance (GAAP) :
-Earnings (Q4): $1.50 Bln. vs. $1.03 Bln. last year. -EPS (Q4): $0.99 vs. $0.66 last year. -Revenue (Q4): $12.61 Bln vs. $12.83 Bln last year.
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