Nike Shares Down Premarket; Co. On Thursday Said Planning For Revenue In The First Half Of The Fiscal 2025 To Be Down Low Single Digits; CFO Said Continues To Expect FY Revenue To Grow About 1%, Now Expects Q4 Revenue To Be Up Slightly
Portfolio Pulse from Benzinga Newsdesk
Nike's shares dropped in premarket trading after the company announced expectations for revenue to decrease in the first half of fiscal 2025 by low single digits. Despite this, the CFO remains optimistic, projecting a 1% revenue growth for the full year and a slight increase in Q4 revenue.
March 22, 2024 | 10:59 am
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Nike's premarket shares fell following the announcement of expected revenue decline in the first half of fiscal 2025, though the company still anticipates a 1% growth in FY revenue and a slight increase in Q4 revenue.
The premarket drop in Nike's shares is directly related to the announcement of expected revenue decline in the first half of fiscal 2025. This negative outlook, despite the slight optimism for the full year and Q4, is likely to impact investor sentiment negatively in the short term, leading to a decrease in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100