Nike Inc Profit Retreats In Q1, but beats estimates

(RTTNews) - Nike Inc (NKE) released earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $1.47 billion, or $0.93 per share. This compares with $1.87 billion, or $1.16 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.92 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.6% to $12.69 billion from $12.25 billion last year.

Nike Inc earnings at a glance (GAAP) :

-Earnings (Q1): $1.47 Bln. vs. $1.87 Bln. last year. -EPS (Q1): $0.93 vs. $1.16 last year. -Analyst Estimates: $0.92 -Revenue (Q1): $12.69 Bln vs. $12.25 Bln last year.