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<Results>Nike 3FQ Earnings/ Revenue Beat; But Greater China Biz Remains Weak
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Nike (NKE.US), undergoing a business transformation, announced after the market closed on Tuesday that its net profit for the third fiscal quarter ended February this year dived 35% YoY to USD520 million, with an EPS of US35 cents, surpassing the market expectation of US28 cents. Revenue reached USD11.28 billion, slightly above the expected USD11.24 billion. The stock price sagged about 3% in after-hours trading. During the quarter, the North American market continued stable growth, with revenue growing 3% to USD5.03 billion, slightly below the expected USD5.04 billion. The Greater China market, however, was a poorly performing region for the company in recent quarters, with revenue declining 7% to USD1.62 billion, but exceeding the expected USD1.5 billion. AASTOCKS Financial News Website: www.aastocks.com |
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