YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Nike (NYSE: NKE) stock sank about 5% in Wednesday's premarket trading after the company reported fiscal first quarter revenue that missed estimates and withdrew its outlook for the year amid a CEO transition.
The shoe giant reported first quarter earnings per share of $0.70, higher than Wall Street's estimate of $0.52 and a 26% decline from the year-earlier period. Meanwhile, Nike's revenue of $11.59 billion fell short of analyst estimates of $11.65 billion and marked a 10% decline from the year-earlier period.
Read more from Yahoo Finance.
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