Investing.com - Nike (NYSE:NKE) reported third quarter earnings that beat analysts' expectations on Thursday and revenue that topped forecasts.
The firm reported earnings per share of $0.68 on revenue of $9.61B. Analysts polled by Investing.com anticipated EPS of $0.64 on revenue of $9.58B. That compared to EPS of $0.68 on revenue of $8.98B in the same period a year earlier. The company had reported EPS of $0.52 on revenue of $9.37B in the previous quarter.
Nike shares lost 3.65% to trade at $84.80 in after-hours trade following the report.
For the year, Nike shares are up 18.71%, outperforming the S&P 500 which is up 15.26% year to date.
Nike follows other major Consumer Cyclical sector earnings this month
On Tuesday, March 12, 2019, Volkswagen Pref ADR reported first quarter EPS of $0.61 on revenue of $69.08B, compared to forecasts of EPS of $0.65 on revenue of $68.84B.
Continental AG PK earnings beat analyst's expectations on Thursday, March 7, 2019, with first quarter EPS of $0.45 on revenue of $12.67B. Investing.com analysts expected EPS of $0.35 on revenue of $12.81B
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