Nike beats earnings, revenue forecast; shares rise
Analysts had expected Nike to report earnings of about 88 cents per share on $7.84 billion in revenue, according to a consensus estimate from Thomson Reuters.
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Nike's announced earlier this year that it would discontinue its FuelBand wearable device, and CEO Mark Parker told CNBC in April that the company would be focusing more on software for the future. That bet comes as more companies step into the wearable technology ring, including the recently announced smartwatch from Apple.
Nike made headlines recently by cutting ties with National Football League player Adrian Peterson. The Minnesota Vikings star has been accused of child abuse as the league faces criticism for its handling of domestic violence issues.
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