Nike’s $ 12 billion in quarterly revenue was a record high in the company’s 50-year history. Fiscal fourth quarter numbers nearly doubled from the same period the previous year. This is due to the high deferred demand caused by the COVID-19 pandemic.
Nike’s $ 12 billion quarterly revenue hits a record in its 50-year historyKirill Bilyk
Nike’s revenue for the period January-May 2021 amounted to $ 12.3 billion, which is 98% higher than in the same period of 2020. The largest contribution to this indicator was made by North America – there sales grew by 141% to% 5.38 billion. Revenue in Europe, the Middle East and Africa added 124%, in South America and the Asia-Pacific region – 82%.
According to the results of the 2021st fiscal year, Nike’s revenue grew by 19% compared to the previous one to $ 44.5 billion. Profit more than doubled – to $ 5.7 billion. 2020 was unprofitable for the company both in terms of revenue and profit.
Experts associate the outstanding financial results with the high deferred demand generated by the COVID-19 pandemic – buyers began to return to offline stores.
After the publication of the report, Nike quotes soared – as of 20.30 Moscow time, daily growth was 15% to $ 153.3 per share.
Subscribe to our TG channelto keep abreast of all the news and events!Photo: Depositphotos.com
Source: RB.RU by rb.ru.
*The article has been translated based on the content of RB.RU by rb.ru. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!
*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.
*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!