Nike beats on earnings, company board authorizes $188 billion buyback program
Yahoo Finance's Jared Blikre looks at Nike's stock following its Q4 earnings beat, along with its share buyback program its company board announced.
Video transcript
SEANA SMITH: Well, let's get to some breaking news. Nike earnings are out. Jared Blikre has that for us. Jared.
JARED BLIKRE: That's right. The stock has been up as much as 4% in after hours trading. And that is-- excuse me here-- that is after reporting beats on both its top and bottom lines. Revenue for the fourth quarter coming in at $12.23 billion. That is down about 1/10 of a percent year over year, but it beats the estimate of $12.13 by a dime. North American revenue a little bit light, $5.12 billion. That's down 5% year over year. East, Middle East, and Africa revenue, that was a beat coming in at $3.25 billion. Greater China revenue, a little bit light there, $1.56 billion, down 19% year over year. The estimate was for higher at $1.74 billion. Finally, Asia-Pacific and Latin America revenue, that was $1.68 billion, up 15% year over year and a beat.
Now let's get to the footwear revenue by segment. This comes down to-- comes up to $799 billion. That beats the estimate of $7.77 billion. Apparel, a little bit light, $3.24 billion. The estimate was for $3.4 billion. And finally, equipment revenue, that was $387 million versus the estimate of $371.6 million. EPS, that was $0.90. And that was versus TheStreet estimates of $0.82. A couple more figures here. Gross margin coming in a little bit light, 45%. Estimate was for 46.7%. And then finally here, we have a new buyback program authorized in the amount of $18 billion. Guys.
SEANA SMITH: All right, Jared, we can see the stock up slightly here after it was up just around 1%. We're going to have more on that later this hour. Jared Blikre, thanks so much.