Nike Q2 results top estimates

Investing.comDec 20, 2024 12:59 AM

View all comments（0）



Investing.com -- Nike reported Thursday fiscal second-quarter results that beat expectations even as the sportswear giant struggles to arrest sluggish sales despite a uptick in promotional activity.

Nike Inc (NYSE:NKE) shares jumped 7% in after-hours trade following the report.

Nike announced Q2 earnings per share of $0.78 on revenue of $12.4 billion. Analysts polled by Investing.com anticipated EPS of $0.65 on revenue of $12.18B.

Revenue fell 8%, with Nike brand revenues down 7% to $12B. Gross margin fell 100 basis points to 43.6%, driven by "higher discounts and changes in channel mix," the company said.

In China, the company's struggles continue as sales fell by 27% to $375M.

Reviewed byTony

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

Tesla Stock Forecast: TSLA Triangle Breakout Targets $411.90 as Cybercabs Overtake Model Ys

TradingKey - Tesla stock forecast: TSLA breaks out of a triangle above $388.85 as Cybercabs overtake Model Ys in Texas, with $411.90 the next hurdle on the 4-hour chart.

Micron Rises Over 3% Pre-Market as Musk Predicts Robot Memory Demand Will Surpass Other Sectors

TradingKey - In pre-market trading on October 28 ET, as of press time, Micron Technology (MU) rose 3.8% to $964.02.

SK Hynix Surges Over 4% as Q3 Results Hit Record High, Returning $75 Billion to Shareholders

SK Hynix reported a record-breaking Q3 operating profit while announcing a massive 100 trillion won (approximately $75 billion) shareholder return plan, sending its stock price surging 4%.

US Stocks Close: Nasdaq Rises Over 1%, Philadelphia Semiconductor Index Gains Over 3%; Chip Stocks Extend Rally, CoreWeave Gains Nearly 8%

On Tuesday, October 27, Eastern Time, U.S. stocks moved higher, with chip stocks extending their rally to drive the Nasdaq to lead the gains. Amid falling oil prices, investors continued to assess a heavy slate of corporate earnings reports while focusing on the Federal Reserve's interest rate meeting. At the close, the Dow Jones Industrial Average rose 0.03% to 52,377.57 points; the Nasdaq Composite Index gained 1.18% to 26,477.81 points; and the S&P 500 Index advanced 0.60% to 7,722.60 points.

Amazon Q3 Earnings Preview: AWS Growth Expected to Rise to 41%, Wall Street Top Price Target $400

TradingKey - Amazon (AMZN) will release its third-quarter 2026 financial results after the U.S. market close on October 29, Eastern Time, and hold an earnings conference call at 17:00 on the same day.

Featured Tools