Nike Inc Q4 Profit Increases, Beats Estimates

(RTTNews) - Nike Inc (NKE) released earnings for its fourth quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $1.50 billion, or $0.99 per share. This compares with $1.03 billion, or $0.66 per share, in last year's fourth quarter.

Excluding items, Nike Inc reported adjusted earnings of $1.01 per share for the period.

Analysts on average had expected the company to earn $0.83 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.7% to $12.61 billion from $12.83 billion last year.

Nike Inc earnings at a glance (GAAP) :

-Earnings (Q4): $1.50 Bln. vs. $1.03 Bln. last year. -EPS (Q4): $0.99 vs. $0.66 last year. -Revenue (Q4): $12.61 Bln vs. $12.83 Bln last year.