The athleticwear and footwear giant Nike (NYSE: NKE) shares bounced more than 14% during pre-market trading on Friday after the company reported strong Q4 financial results on Thursday after market close.
Earnings per share (EPS) $.93 vs. $.51 expected
Revenue $12.3 Billion vs. $11 Billion expected
During the last quarter, Nike’s revenue increased by 96% to $12.3 billion compared to the prior year boosted by strong online sales growth of Nike brands. Nike’s Jordan Brand revenue up 31% to $4.7 billion and revenues for Converse were $596 million, up 85%. The Sales in North America grew by 141% in the past quarter while in China the sales growth in the last quarter was only 17%, which is lower than in the rest of the world.
“FY21 was a pivotal year for Nike as we brought our consumer-direct acceleration strategy to life across the marketplace,” Nike CEO John Donahue said. “Fueled by our momentum, we continue to invest in innovation and our digital leadership to set the foundation for NIKE’s long-term growth” he added.
Nike stock increased as high as $152 in after-hours trading. The stock rallied more than 40% in the last 12 months.