Fast Money Blog- 12/24/23

The week on Wall Street ended with the Fed’s favorite inflation gauge, the Personal Consumption Expenditures price index, showing signs that inflation is creeping closer to the central bank’s goal. Prices in November rose at an annual rate of just 3.2%.

On Thursday, December 21st, Nike, Inc. (NKE) released its earnings for Q2 2024, for the period ending November 30th. 

The company posted Q2 top-line revenue of $13.4 billion, up 1% year-over-year. 

Here’s how Nike’s quarterly revenue broke down:

Revenues for the NIKE Brand were $12.9 billion, up 1% year over year. 

NIKE Direct sales brought in $5.7 billion, up 6% year-over-year.

Impressively, the company saw a 19% rise in net income to $1.58 billion.

Additionally, NKE continued with its strong track record of consistently increasing returns to shareholders with dividend payments of $523 million for the quarter, up 9% from the prior year.

Looking forward to an incredible bull market in 2024. 

Stay Open! Stay Positive!

Tyrone Jackson, The Wealthy Investor