Nike is running with the bulls. After the bell, the footwear giant reported stronger than expected quarterly results. On “Closing Bell,” CNBC’s Scott Wapner explained the numbers and what’s behind the strength.
The Street was looking for $1.12 a share - Nike came in at $1.28. There was tax benefit in there, so when you strip that out, earnings per share was $1.15.
Revenue totaled $3.8 billion – (expectations were for $3.76 billion.)
Nike presented quite an interesting stock story too. Share price hit a new 52-week high. Up 14% year to date.
In terms of future orders - from December 2006 to April 2007 the company is looking at a 7% increase.