Nike Tramples Analyst Expectations With Its Q1 2021 Results
Footwear and apparel titan Nike (NYSE: NKE) announced its fiscal first quarter 2021 results on Sept. 22, sprinting far ahead of analyst consensus expectations in both revenue and earnings per share (EPS). While revenue was down year over year in the most recent quarter ended Aug. 31 because of COVID-19's lingering effects, the drop was only approximately 1%, and the company gained in many other key metrics.
Nike's revenue of $10.6 billion was higher than the consensus analyst forecast of roughly $9.178 billion reported by Zacks Equity Research. Actual revenue delivered a positive 15.49% surprise. Zacks also reports that analysts expected $0.48 EPS, which the actual $0.95 diluted EPS beat by about 97%. Earnings per share were also up 10% year over year.
Image source: Getty Images.
Source Fool.com
