Nike Inc Announces Drop In Q3 Bottom Line, but beats estimates

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

The company's earnings came in at $1.24 billion, or $0.79 per share. This compares with $1.40 billion, or $0.87 per share, in last year's third quarter.

Analysts on average had expected the company to earn $0.55 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.0% to $12.39 billion from $10.87 billion last year.

Nike Inc earnings at a glance (GAAP) :

-Earnings (Q3): $1.24 Bln. vs. $1.40 Bln. last year. -EPS (Q3): $0.79 vs. $0.87 last year. -Analyst Estimates: $0.55 -Revenue (Q3): $12.39 Bln vs. $10.87 Bln last year.