Nike’s $ 12 billion quarterly revenue hits a record in its 50-year history

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 history

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.

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Source: RB.RU by

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