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Nike’s Q2 Profit Beats View; Passing on Higher Costs to Customers (NKE)

Athletic footwear and apparel maker Nike, Inc. ( NKE ) late Tuesday posted a 3% gain in fiscal second quarter earnings, beating analyst estimates.

The Beaverton, OR-based company reported fiscal second quarter net income of $469 million, or $1 per share, compared with $457 million, or 94 cents per share, in the year-ago period.

Revenue surged 18% from last year to $5.73 billion.

On average, Wall Street analysts expected a smaller profit of 97 cents per share on lower revenue of $5.63 billion.

NKE said its sales growth was spurred partially by its basketball and running lines, as it was able to pass on higher input costs by raising prices on many of its products.

Nike shares rose $1.37, or +1.5%, in premarket trading Wednesday.

The Bottom Line

Shares of Nike ( NKE ) have a 1.54% dividend yield, based on last night's closing stock price of $93.63. The stock has technical support in the $90 price area. The stock is trading near all-time highs of $98 a share.

Nike, Inc. ( NKE ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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