They Did It

    • Nike online sales grew 82% year-over-year.
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Today's Action

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Nike shares jumped more than 12% after trading closed yesterday following a better-than-expected earnings report. The shoe and apparel giant beat its first quarter 2021 revenue expectations by generating $10.59 billion, well past Wall Street analyst expectations of $9.15 billion.

At the core of the solid quarter was an 82% year-over-year increase in online sales. That helped bump net income to $1.52 billion, up from $1.37 billion in the same quarter last year.

Nike shares are up almost 15% year-to-date.

Nike’s Q1 FY21 By The Numbers: 

  • $10.59 billion in revenue, 0.6% drop year-over-year
  • Sales in China grew 6%
  • Sales in North America dropped 2%