Nike DESTROYS Earnings Expectations

Lionel Messi Nike Shoot 4

Nike said fiscal Q1 earnings soared 19% to $1.36 per share.  Analysts were expecting $1.21 per share.

Net revenue grew 18% to $6.1 billion, versus an expectation of $5.75 billion.

Excluding foreign exchange rates, sales in North America grew 15%.  China climbed 9%.  Emerging Markets soared 24%.

Western Europe was flat year-over-year excluding the impact of currencies.

“It pays to be prudent in times like these. It’s also essential that we remain on the offence, creating opportunities,” said CEO Mark Parker.

Worldwide order for delivery from September 2011 to January 2012 was $8.5 billion.  Excluding the impact of foreign exchange, this represents 13% year-over-year growth.

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