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Nike Q2'20 EPS beats estimates


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Nike Q2'20 EPS beats estimates

NIKE Inc. on Dec. 19 reported double-digit growth in its fiscal 2020 second-quarter earnings, which exceeded analysts' expectations.

The retailer said diluted EPS for the second quarter ended Nov. 30 jumped 35% to 70 cents from 52 cents in the year-earlier quarter, exceeding the mean consensus estimate for GAAP EPS of 58 cents, according to data compiled by S&P Global Market Intelligence.

Revenue for the second quarter rose 10% to $10.33 billion from $9.37 billion in the year-ago quarter.

In North America, Nike's revenue grew 5% to $3.98 billion from $3.78 billion in the year-ago quarter. In Europe, the Middle East and Africa, the company's revenue grew 10% to $2.54 billion from $2.31 billion, while revenue in Asia-Pacific and Latin America grew 13% to $1.47 billion from $1.3 billion in the year-earlier quarter. In greater China, the company's revenue increased by 20% to $1.85 billion from $1.54 billion in the year-ago period.

Net income in the second quarter grew by 32% to $1.12 billion from $847 million in the year-earlier quarter.

Nike repurchased 10.1 million shares for approximately $922 million during the second quarter, as part of its four-year, $15 billion program, which was approved by the company's board in June 2018. By the end of the second quarter, Nike had repurchased 33.6 million shares under the program for about $2.9 billion.

In after-hours trading, Nike shares were down 0.55% to $100.59.