Nike profit drops 8%, shares fall in late trade - DC News FOX 5 DC WTTG

Nike profit drops 8%, shares fall in late trade

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Nike, Inc. reported after the close Thursday its fiscal fourth-quarter results profit fell eight percent to $549 million, or $1.17 a share, from $594 million, or $1.24 a share a year ago.

Revenue for the three months ended May 31 is up 12 percent to $6.47 billion from $5.77 billion a year ago.

A FactSet poll of analysts had earnings per share expectations for the Beaverton, Ore.-based sports apparel, footwear and equipment company at $1.37 a share on $6.51 billion in revenue.

Future orders, an important measure for the company, rose seven percent compared with a year ago. In after-hours trade, shares fell 10 percent to $87.19.

Read more: MarketWatch

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