Nike‘s fiscal first quarter earnings and sales topped analysts’ expectations, as investments to sell more sneakers and apparel in its stores and on its website showed signs of paying off.
Its shares rose more than 5.5% in after-hours trading on the news, topping its previous all-time high of $90.
Here’s how the company did for the first quarter in fiscal 2020 compared with what analysts were expecting, based on a poll by Refinitiv:
- Earnings per share: 86 cents vs. 70 cents expected
- Revenue: $10.66 billion vs. $10.44 billion expected
CEO Mark Parker said that product innovation, like a new Joyride running shoe, and a stronger e-commerce business helped boost results. During a call with…