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Nike’s third quarter profit falls

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1 year ago

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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.

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Joseph Edeh

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