Nike (NKE) reported fiscal third-quarter sales that topped expectations, reflecting ongoing strength through February even as the coronavirus outbreak generated a host of disruptions for the athletic-wear maker.
Here were the main results from the report, compared to consensus data compiled by Bloomberg:
Revenue: $10.1 billion vs. $9.55 billion expected
Earnings per share: 53 cents vs. 53 cents expected
Gross margin: 44.3% vs. 44.2% expected
Shares of Nike rose 6.2% in late trading to $76.79 each, as of 4:44 p.m. ET.
“In an extraordinarily dynamic time, Nike’s strong results are testament to our deep consumer connections, compelling product innovation and agile teams around the world. We know it’s in times like these that strong brands get even stronger,” CEO John Donahoe said in a statement. “As we start to see recovery in China, no one is better equipped than Nike to navigate the current climate.”
In February, Nike had said it anticipated a “material impact” on its…