Nike earnings beat expectations after launching Kaepernick campaign
A Nike ad in New York featuring Colin Kaepernick. Photo: Angela Weiss/AFP via Getty Images
Nike's quarterly earnings and revenue beat analyst expectations, despite many believing the company's bottom line would suffer from its decision to feature former NFL quarterback Colin Kaepernick in its signature "Just Do It" campaign, CNBC reports.
The big picture: The company posted earnings of $0.52 per share against an expected mark of $0.46, while hauling in $9.37 billion in 4th quarter against an expectation of $9.18 billion. The company's shares were up 7.1% at market close on Friday.
Go deeper: The rise of "belief-driven" buyers