Nike Inc Profit Retreats In Q3, But Beats Estimates

(RTTNews) - Nike Inc (NKE) announced earnings for third quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $0.79 billion, or $0.54 per share. This compares with $1.17 billion, or $0.77 per share, last year.

Analysts on average had expected the company to earn $0.28 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 9.3% to $11.269 billion from $12.429 billion last year.

Nike Inc earnings at a glance (GAAP) :

-Earnings: $0.79 Bln. vs. $1.17 Bln. last year. -EPS: $0.54 vs. $0.77 last year. -Revenue: $11.269 Bln vs. $12.429 Bln last year.