Nike (NKE) earnings for the fourth quarter of 2021

0
227

A man walks in front of a Nike product display in New York City on February 22, 2021.

John Smith | Corbis News | Getty Images

Nike on Thursday reported fourth quarter earnings and sales that exceeded analyst estimates, fueled by record earnings in its largest market, North America.

Nike shares rose more than 4% in after-hours trading.

Here’s how the company performed in the fourth fiscal quarter compared to analysts’ expectations using refinitive estimates:

  • Earnings per share: 93 cents vs. 51 cents expected
  • Revenue: $ 12.34 billion versus $ 11.01 billion expected

Nike net income for the May 31st period rose to $ 1.5 billion, or 93 cents per share, compared to a loss of $ 790 million, or 51 cents per share, last year. That exceeded analysts’ forecast of 51 cents per share, based on refinitive data.

Total revenue rose to $ 12.34 billion from $ 6.31 billion a year ago, beating estimates of $ 11.01 billion.

In North America, Nike’s largest market, sales more than doubled to a record $ 5.38 billion as the company soared from a year earlier, when retailers were hit hardest by the Covid pandemic. Sales in the region increased 29% on a two-year basis.

Digital sales increased 41% year-over-year and 147% year-over-year.

See Nike’s full press release on the results here.

This story evolves. Please check again for updates.