Results from sportswear maker Nike Inc (NYSE:NKE) topped market expectations but were still mildly disappointing.
Earnings per share in the fiscal second quarter were down 8% year-on-year at 46 cents but ahead of the consensus forecast on Wall Street of 39 cents.
Revenues rose 5% to US$8.55bn from the year before and were higher than the Street's best guess of US$8.39bn.
The fly in the ointment was soft wholesale revenues in North America.
The company said it expected revenue growth in the current quarter to be “at or slightly below the rate of reported revenue growth” delivered in the second quarter.
The shares were off 3.6% in after-hours' trading.
Serial resigner John Schnatter, who has relinquished day-to-day control of pizza seller Papa John's Int'l Inc (NASDAQ:PZZA) twice before, is at it again, stepping down as chief executive officer.
Schnatter founded Papa John's in 1984, will remain as chairman of the board.
He has often courted controversy with comments about President Obama's health-care system would increase the price of pizza – which some people regarded as a win/win for the health of Americans – and more recently criticisms of NFL football stars protesting about policy brutality towards people of color, which he said would affect sales of pizza.
Company president Steve Ritchie will take over as chief executive officer.
The shares were unchanged on the news.
Smart Global Holdings Inc's (NASDAQ:SGH) stock shot up 10.7% in screen-based trading after its fiscal first quarter earnings cruised past the Street's forecast.
Earnings per share of US1.05 were 12 cents higher than the Street had been expecting.
Revenue was also higher than expected at US$264mln versus the consensus forecast of US$255mln.