Investing.com - Nike reported on Tuesday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Nike announced earnings per share of $0.78 on revenue of $10.10B. Analysts polled by Investing.com anticipated EPS of $0.61 on revenue of $9.91B. That with comparison to EPS of $0.68 on revenue of $9.61B in the same period a year before.Nike had reported EPS of $0.7 on revenue of $10.33B in the previous quarter.Analysts are expecting EPS of $0.53 and revenue of $10.04B in the upcoming quarter.
Nike shares are down 28% from the beginning of the year and are trading at $76.00 , down-from-52-week-high.They are under-performing the S&P 500 which is down 24.65% year to date.
Nike shares gained 5.02% in after-hours trade following the report.
Nike follows other major Consumer Cyclical sector earnings this month
Nike's report follows an earnings missed by Volkswagen Pref ADR on Tuesday, March 17, 2020, who reported EPS of $0.59 on revenue of $72.43B, compared to forecasts EPS of $0.62 on revenue of $69.11B.
AutoZone had beat expectations on Tuesday, March 3, 2020 with second quarter EPS of $12.39 on revenue of $2.51B, compared to forecast for EPS of $11.75 on revenue of $2.57B.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar