The world's largest sporting goods manufacturer Nike has exceeded the expectations of analysts with its quarterly results. CEO Mark Parker was pleased with the numbers on Thursday after the US close, stating "strong, healthy growth across Nike's entire portfolio."
The company was in high demand worldwide. Business in China, in particular, performed very well with sales up 19 percent. The company again highlighted the advances in digital marketing as a reason for the strong results.
Expectations exceeded
In the three months to the end of February, sales climbed seven percent year-on-year to $ 9.6 billion. Net income of $ 1.1 billion also exceeded Wall Street forecasts. In the corresponding period of the previous year, a high depreciation due to the US tax reform had a significant impact on the balance sheet.
Nevertheless, the quarterly report had a small flaw - although revenues in the home market of North America rose by around seven percent, some analysts had expected something more.
As a result, the share fell after-hours with about four percent in the minuses. However, over the past 12 months, the price has also risen by about 30 percent, so that probably some investors took the opportunity for profit-taking.