Nike Inc Q3 Earnings Drop

(RTTNews) - Nike Inc (NKE) released a profit for third quarter that dropped from the same period last year.

The company's profit totaled $0.85 billion, or $0.53 per share. This compares with $1.10 billion, or $ per share, in last year's third quarter.

Analysts had expected the company to earn $0.59 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.1% to $10.10 billion from $9.61 billion last year.

Nike Inc earnings at a glance:

-Earnings (Q3): $0.85 Bln. vs. $1.10 Bln. last year. -EPS (Q3): $0.53 vs. $ last year. -Analysts Estimate: $0.59 -Revenue (Q3): $10.10 Bln vs. $9.61 Bln last year.