Nike stock price reached an all-time high after stronger-than-expected fiscal Q2 earnings
One of the world-renowned sports brands, Nike, was on a roll in the
past quarter. After the deal with Drake for sub-label NOCTA, the company posted
the numbers for fiscal Q2 2021.
Nike reported an EPS of 78 cents, which came ahead of the 62
cents consensus. The revenues also topped the expectations by coming in at
$11.24 billion. Initially, the market was looking for revenues of $10.56
billion.
In the past quarter, online sales surged 84% as people became
interested in buying apparel and footwear. Compared to last year’s figures,
China reported a quarterly increase of 24%, while in the US, the growth was 1%.
Nike stock price rose 6% in pre-market today, reaching
$145.44 apiece, an all-time high. The company’s stock price went up 37%
year-to-date.
Sources: thestreet.com, cnbc.com
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