Nike Stock Dips Despite Earnings, Revenue Beat

Investing.com – Nike (NYSE:) reported second quarter that beat analysts’ expectations on Thursday and revenue that topped forecasts, but share slumped after hours as gross margin came in a little light.

The company reported earnings per share of $0.70 on revenue of $10.33 billion. Analysts polled by Investing.com expected EPS of $0.58 on revenue of $10.08 billion. That compared to EPS of $0.52 on revenue of $9.37 billion in the same period a year earlier. The company had reported EPS of $0.86 on revenue of $10.66 billion in the previous quarter.

Gross margin came in at 44%. That was below estimates of 44.1%, according to Briefing.com.

Nike (NYSE:) shares lost 1.7% in after-hours trade following the report.

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