BEAVERTON, Ore. (AP) — BEAVERTON, Ore. (AP) — Nike Inc. (NKE) on Thursday reported fiscal fourth-quarter profit of $1.5 billion.
On a per-share basis, the Beaverton, Oregon-based company said it had net income of 99 cents. Earnings, adjusted for one-time gains and costs, were $1.01 per share.
The results exceeded Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.
The athletic apparel maker posted revenue of $12.61 billion in the period, which did not meet Street forecasts. Eleven analysts surveyed by Zacks expected $12.88 billion.
For the year, the company reported profit of $5.7 billion, or $3.73 per share. Revenue was reported as $51.36 billion.
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