Nike beats quarterly estimates despite weaker China sales
Nike earnings beat expectations as revenue tops forecasts and margins improve See how tariff refunds lifted results even as Greater China sales fell 12%
Nike reported fiscal fourthquarter earnings and revenue that came in above Wall Street expectations, even as sales in Greater China fell 12%.
The company said adjusted earnings were 20 cents per share on revenue of $10.97 billion, compared with analysts’ estimates of 13 cents per share and $10.86 billion in revenue. Net income rose to $1.07 billion from $211 million a year earlier.
Nike also said gross margin improved during the quarter, helped by an expected tariff refund of nearly $986 million after the Supreme Court struck down many of President Donald Trump’s global duties. Revenue in North America rose 3% to $4.83 billion, while Greater China sales declined to $1.30 billion.