BEAVERTON, Ore.: Nike, Inc. Thursday reported financial results for its fiscal 2018 fourth quarter and full year ended May 31.
Fourth quarter revenue increased 13% to $9.8 billion driven by strong double-digit revenue growth in international markets and NIKE Direct globally, and a return to growth in North America.
Net income decreased 54% to $1.9 billion primarily related to the impact of the Tax Act, which offset strong revenue growth.
Diluted earnings per share for the fourth quarter rose 15% to 69 cents per share, primarily due to strong revenue growth, gross margin expansion, a lower tax rate and a lower average share count, which were partially offset by higher selling and administrative expense.
The results surpassed Wall Street expectations. Analysts surveyed by Zacks Investment Research forecast earnings of 64 cents per share and revenue of $9.39 billion.
“Our new innovation is winning with consumers, driving significant momentum in our international geographies and a return to growth in North America,” said Mark Parker, chairman, president and CEO, NIKE, Inc. “Fueled by a complete digital transformation of our company end-to-end, this year set the foundation for NIKE’s next wave of long-term, sustainable growth and profitability.”
