Nike Q4 revenue increased greatlyChristian Fernsby ▼ | June 26, 2020
Nike reported financial results for its fiscal 2018 fourth quarter and full year ended May 31, 2018.
Nike Fourth quarter revenue increased to $9.8 billion
Diluted earnings per share for the fourth quarter rose 15 percent to $0.69, primarily due to strong revenue growth, gross margin expansion, a lower tax rate and a lower average share count, which were partially offset by higher selling and administrative expense.
The Company also announced that its Board of Directors has authorized a new four-year, $15 billion program to repurchase shares of NIKE’s Class B Common Stock.
The Company anticipates that the current $12 billion share repurchase program will be completed within fiscal 2019, and the new program will commence upon the completion of the current program. ■