Nike: Q3 net income leaps 71%
(CercleFinance.com) - On Thursday evening Nike reported a 71% jump in net income to 1.
4 billion dollars for its third quarter of 2020-21, representing 90 cents per share, EPS that significantly beat the consensus.
The sporting goods giant saw its gross margin improve by 1.3% to 45.6%, thanks to higher full prices, partly due to the geographic mix, while its revenue rose by 3% to 10.4 billion dollars (-1% excluding FX factors).
Nike says it plans to resume share buybacks in Q4 under the program that was suspended in March last year to maximise liquidity during the Covid-19 pandemic.
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4 billion dollars for its third quarter of 2020-21, representing 90 cents per share, EPS that significantly beat the consensus.
The sporting goods giant saw its gross margin improve by 1.3% to 45.6%, thanks to higher full prices, partly due to the geographic mix, while its revenue rose by 3% to 10.4 billion dollars (-1% excluding FX factors).
Nike says it plans to resume share buybacks in Q4 under the program that was suspended in March last year to maximise liquidity during the Covid-19 pandemic.
Copyright (c) 2021 CercleFinance.com. All rights reserved.