Athletic footwear and apparel maker Nike, Inc. ( NKE ) said late Wednesday that its fiscal third quarter profit more than doubled from last year, when results were hampered by a big one-time charge. The Beaverton, OR-based company reported fiscal third quarter net income of $496 million, or $1.01 per share, compared with $244 million, or 50 cents per share, in the year-ago period. On average, Wall Street analysts expected a much lower profit of 89 cents per share for the quarter. Revenue rose 7% from last year, to $4.7 billion. Nike shares jumped $3.12, or +4.4%, in premarket trading Thursday. The Bottom Line We just added shares of NKE to our “recommended” list on the stellar results and guidance. Nike, Inc. ( NKE ) is a “recommended” dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .
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Nike Q3 Earnings Easily Beat View; Shares Rise (NKE)
