Nike Inventory Surges Following Earnings and Income Beat

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It has been a troublesome yr for Nike. The inventory has plummeted practically 40%, battered by investor considerations over slowing demand and stock points. However a second-quarter earnings and gross sales beat on Tuesday boosted hopes that the athletic big’s luck is altering, sending the inventory greater in after-hours buying and selling.

Nike (ticker:


) posted GAAP earnings of 85 cents a share on $13.3 billion in gross sales. Analysts have been forecasting earnings of 67 cents a share on $12.58 billion in gross sales for the quarter, in line with FactSet.

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