Nike, The Worst Performing Dow Stock Of 2016, Gets Boost From Q2 Earnings

Nike Inc NKE released its heavily anticipated second quarter earnings after the market closed on Tuesday.

• Nike reports Q2 EPS $0.50, beats by $0.07.
• Revenues $8.18 billion, beating by $90 million.
• Sales increased 6 percent, as the company saw double-digit currency neutral growth in Western Europe, Greater China, and Emerging Markets.
• The company did not issue guidance.

"With industry-defining innovation platforms, highly anticipated signature basketball styles and more personalized retail experiences on the horizon, we are well-positioned to carry our momentum into the back half of the fiscal year and beyond," said Nike Chairman and CEO Mark Parker.

The athletic apparel giant has had a turbulent year, and is the worst performing stock in the Dow for 2016. It's one of only two stocks in the red along with Coca-Cola Co KO.

According to CNBC, if not for Nike, the Dow would already be above 20,000 as it has shaved 80 points off the index this year.

Shares of Nike were up sharply after hours, rising more than 3 percent. The stock traded recently at $52.55, up about 1.5 percent.