Nike Inc. reported mixed financial results Thursday, beating earnings-per-share estimates but slightly missing the analysts’ revenue expectations.
The Beaverton, Oregon-based athletic apparel manufacturer reported $1.12 EPS on $12.2bn (£8.88bn) in revenue. Analysts had expected $1.12 EBS and $12.5bn in revenue.
“We have the right playbook to navigate macroeconomic dynamics, as we create value through our relentless drive to fuel the future of sport,” said Nike President and CEO John Donohoe in a release.
“Our Q1 results illustrate how NIKE’s Consumer Direct Acceleration strategy continues to fuel growth and transform our long-term financial model,” added CFO Matt Friend in the same release.
This is a developing story and will be updated following the company’s investor conference call scheduled for 5:00pm EDT.