trending Market Intelligence /marketintelligence/en/news-insights/trending/dm6aeejrrug-hnasnrqzrq2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Nike reports net loss in Q3 citing tax reform; revenue climbs 7%

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

The Market Intelligence Platform


Nike reports net loss in Q3 citing tax reform; revenue climbs 7%

Nike Inc. posted a net loss for the fiscal third quarter, which the company attributed to $2 billion in additional tax expenses related to U.S. federal tax reform.

The company posted a net loss of $921 million, a drop from profit of $1.14 billion in the same quarter last year. Nike said it recorded additional tax expense of about $2 billion, primarily related to the transition tax on accumulated foreign earnings and the measurement of deferred tax assets and liabilities, stemming from tax reform legislation enacted in December 2017.

The athletic wear company reported a diluted loss per share of 57 cents, citing a one-time and "significantly" higher income tax expense from U.S. federal tax reform for the fiscal third quarter ended Feb. 28. Nike said federal tax reform brought down its diluted EPS by $1.25. The figure fell well short of the analyst consensus mean for GAAP EPS of 53 cents and was well below EPS of 69 cents in the year-ago period.

Nike's revenue, meanwhile, increased 7% to $8.98 billion from $8.43 billion in the year-ago period. That represents a 3% increase on a currency-neutral basis. The company said that international markets, particularly China, led revenue growth. Revenue in greater China increased 24% to $1.34 billion from $1.08 billion year over year.

The company said that as of Feb. 28, 126.4 million shares, worth about $7.2 billion, have been repurchased from a November 2015 $12 billion, four-year share repurchase program. During the fiscal third quarter alone, Nike repurchased 14.6 million shares for about $962 million as part of the program.