Nike Earnings Beat Estimates. Why Its Stock Is Dropping.

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Updated Sept. 23, 2021 4:28 pm ET / Original Sept. 23, 2021 4:24 pm ET

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A detailed view of a Nike Flight Premier League match ball

Catherine Ivill/Getty Images

Nike stock is falling after the athletic apparel company reported earnings that beat earnings forecasts but missed on sales.

Nike reported a profit of $1.16 a share, beating forecasts for $1.12, on sales of $12.2 billion, missing forecasts for $12.47 billion.

“NIKE’s strong results this quarter are continued proof of our deep consumer connections,...

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