Stocks to Watch: Nike, Micron, Tiffany
NEW YORK -- Nike
Earnings for the quarter were $662 million, or 73 cents a share, up from year-earlier profit of $569 million, or 61 cents a share. Analysts were looking for earnings of 67 cents a share.
Revenue rose 9% to $6.19 billion; analysts forecast sales of $6.2 billion.
Nike said revenue in North America, which accounts for 40% of its sales, rose 18% to $2.55 billion.
Nike said orders for shoes and clothing for delivery between March and July -- futures orders -- rose 6%.
Analysts were looking for a quarterly loss of 20 cents a share on revenue of $1.92 billion.
The chipmaker said DRAM products sales rose 24% sequentially.
Tech Data, the technology product distributor, said the restatement could reduce net income by $25 million to $33 million over the three years.
-- Written by Joseph Woelfel
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