Nike Sees Earnings Jump

Fri., Sept. 15, 2000

As the Olympics opens with one of the biggest advertising blitzes in Nike history, the athletic shoe-maker reported first quarter profits of $210 million, beating Wall Street expectations.

The earnings of 77 cents per share compare with $200 million, or 70 cents per share in the year-ago quarter.

Analysts surveyed for First Call/ Thomson Financial had pegged earnings at 74 cents per share.

In other reports Thursday:

Oracle Corp. rode the continuing demand for its Internet software to more than double its profit for its first quarter and beating analyst estimates by 4 cents a share. The software giant recorded a $501 million profit, or 17 cents per share, for the three months ended Aug. 31, up from $237 million, or 8 cents per share, in the year-ago period.

Higher interest expenses kept General Mills first-quarter profits flat despite a 20 percent increase in volume sales of Yoplait yogurts, Chex Mix and other snacks that helped boost overall revenue growth of 6 percent.

Adobe Systems Inc.’s third-quarter results easily soared past Wall Street expectations as demand for Web publishing software boosted profits 39 percent.

Third-quarter earnings at brokerage firm Bear Stearns Cos. beat the estimates of Wall Street analysts, helped by strong equity and derivatives businesses.

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Nike Sees Earnings Jump

Jesse Tinsley

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