Nike (NKE) beat Q2 FY 2021 earnings, sales

A woman carries a Nike shopping bag to the Citadel outlet mall, as the global outbreak of coronovirus disease (COVID-19) continues until December 3, 2020 in Commerce, California, USA.

Lucy Nicholson | Reuters

Naik reported quarterly sales and earnings on Friday, topped analyst estimates, driven by online triple-digit growth in North America, and strong demand for workout apparel from its sneakers and Chinese consumers.

Its shares jumped over 5% in after-hours trading.

Based on refinitive data, how did the company perform in the second quarter of its fiscal year compared to what analysts had expected:

  • Earnings per share: 78 cents vs. 62 cents, expected
  • Revenue: $ 11.24 billion vs. $ 10.56 billion, expected

For the three-month period ended November 30, Nike reported net income of $ 1.25 billion, or 78 cents per share, $ 1.12 billion, or 70 cents per share, a year earlier. Analysts had called earnings of 68 cents per share.

Revenue increased 9% to $ 11.24 billion from $ 11.34 billion a year earlier. Was better than the $ 10.56 billion expected by analysts.

Naik said its digital sales for its renowned brand were 84% during the quarter, as more shoppers visited its website during the epidemic to purchase athletic apparel and footwear to maintain their fitness routines and personal health.

Nike shares gained more than 37% this year as the market closed on Friday. The company has market cap of $ 215.5 billion.

Get the full earnings press release from Nike here.

This story is developing. Please check back for updates.


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