Nike’s earnings beat forecast even after it exits Russian market
June 28, 2022
Nike reported earnings per share of 91 cents, above the Wall Street consensus of 81 cents. Revenues for the company were down 1 percent after it exited the market in Russia. Nike Direct’s sales were up 14 percent year-over-year.
Recent News
TikTok Suspends TikTok Lite Rewards Program in the EU
A TikTok service offering rewards such as gift vouchers for watching videos has been suspended by the social media site.
FCC Votes To Restore Net Neutrality Rules
The Federal Communications Commission (FCC) voted 3-2 on Thursday to reinstate net neutrality rules that were rolled back during the Trump administration.
Blackstone To Buy Tropical Smoothie Cafe
Alternative asset manager Blackstone is set to buy the restaurant chain Tropical Smoothie Cafe.
Ford’s Total EV Sales Post $1.3 Billion Loss in Q1
Ford’s EV division, known as Model e, faced a tough start to 2024.