Nike Inc Q1 Earnings Decline 24%

(RTTNews) - Nike Inc (NKE) released a profit for first quarter that fell from last year.

The company said its profit totaled $950 million, or $0.57 per share. This was down from $1249 million, or $0.73 per share, in last year's first quarter.

Analysts had expected the company to earn $0.48 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 0.1% to $9.07 billion. This was up from $9.06 billion last year.

Nike Inc earnings at a glance:

-Earnings (Q1): $950 Mln. vs. $1249 Mln. last year. -Earnings Decline (Y-o-Y): -23.9% -EPS (Q1): $0.57 vs. $0.73 last year. -EPS Decline (Y-o-Y): -21.9% -Analysts Estimate: $0.48 -Revenue (Q1): $9.07 Bln vs. $9.06 Bln last year. -Revenue Change (Y-o-Y): 0.1%