Nike reported a loss of $790 million in the quarter ending May 31, which translated to a loss of 51 cents per share compared with analyst expectations for nine cents per share in profit. Last week the company caused a stir when it revealed an ad featuring an image of Kaepernick and the message "Believe in something. In 2020, Nike's North American revenue amounted to about 14.48 billion U.S. dollars. Revenues tumbled 38 percent to $6.3 billion following huge declines in sales in most of the world. “Nike’s annual sales have jumped 7% to more than $39 billion, according to its last quarterly report. Nike sales booming after Colin Kaepernick ad, invalidating critics Nike blew past estimates for the quarter it released the Kaepernick ad. https://www.yahoo.com/entertainment/nike-loses-3-75-billion-150241411.html PORTLAND, Ore. — Nike's shares fell 3.16 percent at closing bell Tuesday -- and many on social media assume it's because of the newest ad campaign featuring Colin Kaepernick. Kaepernick, 30, has been without a team since opting out of his San Francisco 49ers contract in March 2017. Nike sales spiked by 31 percent since the company debuted its controversial "Just Do it" campaign last week featuring Colin Kaepernick as the company's new spokesperson, NBC News reported. By Soo Youn. Nike’s market value increased by $3 billion as its stock rose two percent since Tuesday. Despite not playing a professional down of football since 2016, Kaepernick has remained a Nike athlete as the company continued to pay him, according to ESPN reporter Darren Rovell. Nike sales jumped by 31 percent after debuting quarterback-turned-activist Colin Kaepernick as a new company spokesman — and market observers say … The stock is still trading below its 81.10 buy point, after undercutting the entry on Tuesday, in the wake of the news. Nike stock edged down 0.1% top 80.30 in the stock market today, . 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