The Drive Behind Nike’s 11% Gain Overnight

It came as a pleasant surprise when I saw on my iPhone that Nike’s shares have jumped up 11% today. All of the companies that I track don’t move up or down more than 1% on a typical day.

Of course I was curious about what lead to the 11% climb. A quick Google search shows that Nike recently published its 2017 full year result earnings. It must have been a good report.

According to Nike’s investor relations, Nike earned revenues totalling $34.35 billion USD, which is 6% higher than what it earned throughout 2016. To save the confusion, Nike’s financial year ran from June 1 2016 to May 31 2017. After deducting all of the company’s expenses and taxes, Nike was able to retain $4.2 billion USD, which is 13% higher than last year’s performance.

Is it a good time to buy Nike stocks? Who knows, maybe the stock will continue to climb, or maybe it won’t. Hopefully the first quarter of the 2018 financial year will start off on the right foot.

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