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BREAKING NEWS

Nike beats quarterly revenue estimates

Nike beats quarterly revenue estimates
FILE PHOTO: A customer is reflected in a shop window decorated with Nike store logo at the outlet village Belaya Dacha outside Moscow, Russia, April 23, 2016. REUTERS/Grigory Dukor/File Photo GLOBAL BUSINESS WEEK AHEAD -
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Grigory Dukor(Reuters)
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(Reuters) – Nike Inc <NKE.N> beat analysts’ estimates for quarterly revenue on Thursday, as more customers shopped through its app and website.

Revenue rose to $10.18 billion from $9.79 billion, beating analysts’ average estimate of $10.16 billion, according to IBES data from Refinitiv.

Nike’s net income fell to $989 million, or 62 cents per share, in the fourth quarter ended May 31, from $1.14 billion, or 69 cents per share, a year earlier.

(Reporting by Uday Sampath in Bengaluru; Editing by Shounak Dasgupta)

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