Shares of Nike Inc. skidded in Tuesday’s extended session after the world’s largest sportswear maker by sales posted flat quarterly earnings. Nike reported its fourth-quarter earnings fell 2% to $846 million from $865 million a year earlier due to a higher tax rate, gross margin decline, and an increase in expenses. On a per-share basis, earnings were unchanged at 49 cents a share. Revenue rose 6% to $8.24 billion. Analysts surveyed by FactSet had forecast the company to earn 48 cents a share on revenue of $8.28 billion. Nike shares dropped 6% after hours.
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