Pedestrians walk past the American multinational sport clothing brand, Nike store and its logo seen in Hong Kong.
Budrul Chukrut | LightRocket | Getty Images
Nike shares dropped in extended trading Thursday after the sneaker giant reported quarterly revenue that missed analysts’ expectations.
Its stock was recently down around 3%.
Here’s how Nike did during its fiscal first quarter compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: $1.16 vs. $1.11 expected
- Revenue: $12.25 billion vs. $12.5 billion expected
Nike shares are up about 13% year to date, as of Thursday’s market close, but down about 9% from an all-time high reached in early August. The company has a market cap of $252.6 billion.
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Find the full press release from Nike here.
This article was originally published by Cnbc.com. Read the original article here.