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00:02Nike reported third-quarter earnings of $0.35 per share on $11.28 billion in revenue,
00:08beating analysts' estimates of $0.31 per share and $11.24 billion, according to Benzinga.
00:15Revenue was flat year-over-year. Nike brand revenue rose 1% to $11 billion,
00:20while Nike direct revenue fell 4% to $4.5 billion.
00:25Wholesale revenue rose 5% to $6.5 billion.
00:29North America sales rose 3%, while Greater China fell 7%.
00:34Europe, the Middle East, and Africa rose 2%, and Asia-Pacific and Latin America rose 1%.
00:42Inventory declined 1% to $7.5 billion.
00:46Nike returned $609 million to shareholders and ended the quarter with $8.1 billion in cash.
00:53Elliott Hill said Nike made progress improving the business,
00:56and the company is continuing to execute with focus as it builds a stronger foundation.
01:02Shares were down by 7.3% at $47.50 in Wednesday's pre-market trading, according to data from Benzinga
01:10Pro.
01:10For all things money, visit Benzinga.com.
01:13We'll see you next time.
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