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Nike, Inc. today reports first quarter sales that are absolutely shocking. With financial results ending on August 31, 2014, company revenue is up 5% to a whooping $8.4 billion.
Up 14% on a currency-neutral basis, Nike is racking in roughly $93 million a day in sales. It’s also to be noted that the brand spent over $832 million in marketing, which in several cases, exceeds what some companies captured in total revenue for the quarter.
Nike stock is also on the rise, as diluted earnings per share are up 23% to $1.34. The brand’s financial heroics shocked even the most precise money minds, as projections were closer to $8.2 billion than the actual number of $8.4. For more on Nike’s fiscal 2016 first quarter earnings report, visit here.
