Nike Reports Q3 Earnings Beat

Nike Inc. NKE reported adjusted third-quarter earnings of 78 cents per share on Tuesday, which beat the analyst consensus estimate of 59 cents by 32.2%. This is a 14.71% increase over earnings of 68 cents per share from the same period last year.

Diluted earnings per share was 53 cents, which included a 25-cent one time, non-cash charge associated with the transition to a strategic distributor model in South America.

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The company reported quarterly sales of $10.1 billion, which beat the analyst consensus estimate of $9.8 billion by 3.06%. This is a 5.09% increase over sales of $9.611 billion the same period last year.

Nike shares traded up 15.18% to $72.33 on Tuesday, and were higher by more than 7% in the after-hours session. The stock has a 52-week high of $105.62 and a 52-week low of $60.