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Posted On: 12/22/2023 6:00:48 AM
Post# of 27345
Shares dunked
Nike shares plunged 11.7% in extended trading after the company reported mixed results and a plan to cut costs by about $2 billion over the next three years. For its fiscal second quarter, Nike
beat estimates for earnings per share — suggesting its cost cutting’s already under way — but disappointed on its revenue. That’s the second quarter in a row Nike’s fallen short of sales estimates.
Nike shares plunged 11.7% in extended trading after the company reported mixed results and a plan to cut costs by about $2 billion over the next three years. For its fiscal second quarter, Nike
beat estimates for earnings per share — suggesting its cost cutting’s already under way — but disappointed on its revenue. That’s the second quarter in a row Nike’s fallen short of sales estimates.
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