Nike Inc Q1 Income Falls, But Beats Estimates

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

The company's bottom line totaled $1.05 billion, or $0.70 per share. This compares with $1.45 billion, or $0.94 per share, in last year's first quarter.

Analysts on average had expected the company to earn $0.52 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 10.4% to $11.589 billion from $12.939 billion last year.

Nike Inc earnings at a glance (GAAP) :

-Earnings (Q1): $1.05 Bln. vs. $1.45 Bln. last year. -EPS (Q1): $0.70 vs. $0.94 last year. -Revenue (Q1): $11.589 Bln vs. $12.939 Bln last year.