5 Stocks Garnering Attention After Releasing Their Earnings Reports

2. NIKE, Inc. (NYSE:NKE)

Number of Hedge Fund Holders: 68

Shares of NIKE, Inc. (NYSE:NKE) closed higher on Tuesday, March 22, 2022, following an upbeat financial performance for its fiscal third quarter. The Oregon-based sportswear giant reported earnings of 87 cents per share, topping expectations of 71 cents per share.

In addition, NIKE, Inc. (NYSE:NKE) posted revenue of $10.9 billion, up 5 percent on a year-over-year basis and above analysts’ average estimate of $10.6 billion. Revenue from direct sales rose 15 percent, while digital revenue jumped 19 percent in the quarter.

Discussing the results, CFO of NIKE, Inc. (NYSE:NKE), Matt Friend, said:

“Our third quarter results demonstrate NIKE’s ability to navigate through volatility, while continuing to serve consumers directly and digitally, at scale. Marketplace demand continues to significantly exceed available inventory supply, with a healthy pull market across our geographies.”