Nike, Inc. announced higher than expected 2nd quarter earnings earlier today, only minutes after their stock had risen nearly 4% to its highest price in over ten years. Nike reported that second-quarter net income rose to $325.6 million ($1.28 per share) compared with $301.1 million ($1.14 per share) a year earlier. Revenue increased 10 percent, from $3.47 billion to $3.82 billion. This news, which beat analysts expectations, was announced after the closing bell on a day when Nike’s stock price rose from $97.00 to $99.78 per share.
During a conference call with analysts, Chief Executive Mark Parker said that sales of Nike+iPod shoes and accessories are “turning out to be huge.”
It’s not clear at this point how much of an effect the Nike+iPod products had on Nike’s overall bottom line, but it’s extremely encouraging to see both companies crowing about the products’ success. Steve Jobs is likely to announce more sales data during his Keynote speech at Macworld 2007 on January 9th in San Francisco.
All of this can only be a good sign that more Nike+iPod developments and products are in the works for 2007 and beyond.
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