Nike Beats Revenue And Earnings Estimates In Q3, Bullish Chart Pattern Emerges

The American multinational sports clothing brand Nike logo is seen displayed on a smartphone with an economic stock exchange index graph in the background.Nike, Inc was trading flat on Thursday as the company heads into its fourth-quarter earnings print after the close.When Nike printed a third-quarter earnings beat on March 21, the stock dropped nearly 5% the following day. PHOTO BY BUDRUL CHUKRUT/GETTY IMAGES

For the third quarter, Nike reported revenue of $12.4 billion, which beat the $11.47-billion consensus estimate. The company reported earnings per share of 79 cents, beating a consensus estimate of 55 cents.

For the fourth quarter, analysts, on average, estimate Nike will report earnings per share of 67 cents on revenues of $12.59 billion.