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Nike beats on earnings, company board authorizes $188 billion buyback program

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Yahoo Finance's Jared Blikre looks at Nike's stock following its Q4 earnings beat, along with its share buyback program its company board announced.

Video Transcript

SEANA SMITH: Well, let's get to some breaking news. Nike earnings are out. Jared Blikre has that for us. Jared.

JARED BLIKRE: That's right. The stock has been up as much as 4% in after hours trading. And that is-- excuse me here-- that is after reporting beats on both its top and bottom lines. Revenue for the fourth quarter coming in at $12.23 billion. That is down about 1/10 of a percent year over year, but it beats the estimate of $12.13 by a dime. North American revenue a little bit light, $5.12 billion. That's down 5% year over year. East, Middle East, and Africa revenue, that was a beat coming in at $3.25 billion. Greater China revenue, a little bit light there, $1.56 billion, down 19% year over year. The estimate was for higher at $1.74 billion. Finally, Asia-Pacific and Latin America revenue, that was $1.68 billion, up 15% year over year and a beat.

Now let's get to the footwear revenue by segment. This comes down to-- comes up to $799 billion. That beats the estimate of $7.77 billion. Apparel, a little bit light, $3.24 billion. The estimate was for $3.4 billion. And finally, equipment revenue, that was $387 million versus the estimate of $371.6 million. EPS, that was $0.90. And that was versus TheStreet estimates of $0.82. A couple more figures here. Gross margin coming in a little bit light, 45%. Estimate was for 46.7%. And then finally here, we have a new buyback program authorized in the amount of $18 billion. Guys.

SEANA SMITH: All right, Jared, we can see the stock up slightly here after it was up just around 1%. We're going to have more on that later this hour. Jared Blikre, thanks so much.

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