Nike Inc. (NKE) Profit Rises 51 Percent
Nike Inc. reported a 51-percent increase in fiscal first-quarter net income on Thursday, boosted by higher revenue and future orders along with favorable exchange rates for the world's largest athletic shoe and clothing company.
Net income reached $569.7 million, or $1.12 per share for the quarter ending Aug. 31, up from $377.2 million, or 74 cents per share, for the same period a year earlier.
Revenue for the quarter rose 11 percent to $4.7 billion. Changes in currency exchange rates contributed 3 percentage points to revenue growth for the quarter.
Net income reached $569.7 million, or $1.12 per share for the quarter ending Aug. 31, up from $377.2 million, or 74 cents per share, for the same period a year earlier.
Revenue for the quarter rose 11 percent to $4.7 billion. Changes in currency exchange rates contributed 3 percentage points to revenue growth for the quarter.
posted by Stock Administrator @ 5:23 PM
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