Nike reports 7 per cent rise in quarterly revenue GlobeBusiness
Nike Inc reported a 7 per cent rise in quarterly revenue on Thursday, boosted by strong sales on its app and website.
Total revenue rose to US$9.61-billion from US$8.98-billion, in line with analysts’ average estimate, according to IBES data from Refinitiv. The maker of Jordan sneakers reported a net income of US$1.1-billion, or 68 cents per share, for the third quarter ended Feb. 28, compared with a net loss of US$921-million, or 57 cents per share, a year earlier, when the company incurred a US$2-billion charge related to U.S. tax reform.
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