{"id":8203,"date":"2016-06-30T12:02:07","date_gmt":"2016-06-30T12:02:07","guid":{"rendered":"\/articles\/?p=8203"},"modified":"2016-06-30T12:14:42","modified_gmt":"2016-06-30T12:14:42","slug":"nike-inc-nysenke-reports-q4-and-fiscal-2016-results","status":"publish","type":"post","link":"\/articles\/nike-inc-nysenke-reports-q4-and-fiscal-2016-results\/","title":{"rendered":"Nike Inc (NYSE:NKE) Reports Q4 and Fiscal 2016 Results"},"content":{"rendered":"

tags: NKE <\/p>\n

<\/p>\n

Yesterday Nike Inc (NYSE:NKE<\/a>) announced its financial results for the fourth quarter and fiscal year ended May 31, 2016. The athletic apparel maker reported revenue growth of 6% for the quarter but the $8.24 billion generated by the company failed to meet the $8.26 billion that the analysts expected. As a result in after-hours trading NKE<\/a>‘s <\/strong>stock tumbled down by 3%.<\/p>\n

For the quarter the net income of the company was $846 million, down from $865 million a year ago. NKE<\/a> <\/strong>reported earnings per share of $0.49 beating the average estimate of the analysts of $0.48. For the full year the net income rose to $3.76 billion while the reported revenue stood at $32.38 billion. According to NKE<\/a> <\/strong>the strong dollar continued to have a negative effect on the company’s international revenues after the currencies are exchanged. Otherwise, the reported revenue would have grown by 9%.<\/p>\n

With sales in North America staying flat NKE<\/a>‘s <\/strong>revenue growth was driven by double digit increase in sales in Western Europe, Greater China, emerging markets and Japan. <\/p>\n

Nike<\/strong> said that worldwide futures orders, which represent products scheduled to be delivered from June through November, were up by 8%. This could indicate relatively strong demand going into fiscal 2017.<\/p>\n

NKE<\/a>‘s <\/strong>stock closed the regular trading session 2.31% in the green at $53.09. Compared to its share price at the start of the year the stock is still down by 15%.<\/p>\n","protected":false},"excerpt":{"rendered":"

tags: NKE Yesterday Nike Inc (NYSE:NKE) announced its financial results for the fourth quarter and fiscal year ended May 31, 2016. The athletic apparel maker reported revenue growth of 6% for the quarter but the...<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-8203","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/8203","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/comments?post=8203"}],"version-history":[{"count":0,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/posts\/8203\/revisions"}],"wp:attachment":[{"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/media?parent=8203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/categories?post=8203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/articles.thehotpennystocks.com\/articles\/wp-json\/wp\/v2\/tags?post=8203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}