Nike's Third Quarter Earnings Hit the $8 Billion USD Mark
All is well at Nike.
After experiencing a slight dip in the second quarter of 2016, Nike reports its third quarter earnings have hit the $8 billion USD mark once again. The sportswear giant’s revenue was driven by strong consumer demand as sales jumped up in all regions (most notably China and the United States) except in emerging markets, helping it to grow an impressive 8 percent when compared to last year. Subsidiary label Converse managed to rake in an additional $489 million USD, which is actually a 5 percent decrease on a currency-neutral basis, but this was attributed to orders from last year that were moved up from the fourth quarter to the third quarter. For a detailed overview on Nike’s earnings view the full report here.
