Nike, a multinational American corporation that designs, develops, manufactures, markets, and sells shoes, clothing, equipment, accessories, and services on a global scale exceed sales with US$46 billion in its annual year 2022.
Making it the largest maker of sports equipment as well as a provider of athletic shoes and apparel worldwide.
Despite exceeding Market expectations, American sporting goods manufacturer Nike reported on Tuesday, 22nd march 2023 a decrease in third-quarter profit.
The business reported earnings of $1.24 billion, $0.79 per share. Comparatively, the third quarter of 2022 saw $1.40 billion, $0.87 per share.
According to data gathered by Thomson Reuters, analysts had projected that the company would make $0.55 per share on average. Estimates from analysts often don’t include unique items.
Compared to the same period in 2022, Nike’s quarterly revenue increased 14% to $12.39 billion.
