SPORTS

Nike’s third quarter profit falls

Published

2 years ago

March 22, 2023

Joseph Edeh

Profit at US sporting goods company Nike fell in the third quarter but beat the Street estimates, the company announced on Tuesday.

The company’s earnings came in at $1.24 billion, or $0.79 per share.

This compares with $1.40 billion, or $0.87 per share in third quarter of 2022.

Analysts on average had expected the company to earn $0.55 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 14% to $12.39 billion, up from $10.87 billion in 2022.

Related Topics:

Up Next

Ibadan Tennis Club honours late Olatoye, Ex-NAN DEIC

Don't Miss

Crystal Palace sack Vieira after winless run

Joseph Edeh

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.