Nike shares fall as revenue misses expectations
Pedestrians walk past the American multinational sport clothing brand, Nike store and its logo seen in Hong Kong.shares dropped in extended trading Thursday after the sneaker giant reported quarterly revenue that missed analysts' expectations, due to softening demand in North America.Here's how Nike did during its fiscal first quarter compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:Net income for the three-month period ended Aug. 31 grew to $1.
Sales climbed to $12.25 billion from $10.59 billion a year earlier. That was short of expectations for $12.46 billion. Nike shares are up about 13% year to date, as of Thursday's market close, but down about 9% from an all-time high reached in early August. The company has a market cap of $252.6 billion.
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