5 Key Quarterly Reports to Watch

1. NIKE, Inc. (NYSE:NKE)

Number of Hedge Fund Holders: 70

Shares of NIKE, Inc. (NYSE:NKE) rose more than six percent on Tuesday, December 21, 2021, after announcing better-than-expected financial results for its fiscal second quarter. The sportswear company reported earnings of 83 cents per share for the quarter, above expectations of 63 cents per share.

Revenue for the quarter came in at $11.4 billion, nearly flat from the comparable period of 2020. Analysts were expecting NIKE, Inc. (NYSE:NKE) to generate revenue of $11.25 billion.

NIKE, Inc. (NYSE:NKE) reported that its direct sales in the quarter rose nine percent versus last year to $4.7 billion, while digital sales increased 12 percent on a year-over-year basis.

Like its industry peers, NIKE, Inc. (NYSE:NKE) also faced production and logistic hurdles in the quarter. The company mentioned that the pandemic-driven factory closures have affected its progress in recent months. In addition, it also blamed higher freight costs for denting its gross margin.

Speaking on the results, CFO Matt Friend said:

“Our second quarter results reflect our deep consumer connections, the continued strength of our brands and strong marketplace demand. As we navigate through short-term supply challenges, we are focused on executing our Consumer Direct Acceleration strategy to fuel our long-term financial outlook.”

You can also take a peek at 10 Dividend Stocks to Buy According to Billionaire Jim Simons’ Hedge Fund and 10 Meme Stocks that More than Doubled in 2021.

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