Nike Q4 Earnings Highlights: Revenue Miss, EPS Beat, 'Taking Our Near-Term Challenges Head-On'
Portfolio Pulse from Chris Katje
Nike Inc (NYSE:NKE) reported its Q4 earnings with a revenue miss but an EPS beat. Revenue was $12.6 billion, down 2% YoY, missing the $12.91 billion estimate. EPS was $1.01, beating the 85 cents estimate. Nike's gross margin improved, and the company repurchased $1 billion in shares in Q4. Shares are down 5% in after-hours trading.
June 27, 2024 | 8:34 pm
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Nike reported Q4 revenue of $12.6 billion, missing estimates, but EPS beat expectations at $1.01. Gross margin improved, and the company repurchased $1 billion in shares. Shares are down 5% in after-hours trading.
The revenue miss and decline in key segments like Nike Direct and Converse, despite an EPS beat, indicate mixed performance. The market's negative reaction, with shares down 5% in after-hours trading, suggests short-term bearish sentiment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100