"Nike's earnings report showed a revenue of $11.28 billion, beating the expected $11.24 billion, and earnings per share of 35 cents, surpassing the anticipated 28 cents."
"Despite the positive earnings results, Nike's stock fell over 10% after the report, reflecting ongoing challenges as the company navigates a difficult market."
Nike's fiscal 2026 third-quarter earnings report revealed mixed results, causing a more than 10% drop in shares. The company reported $11.28 billion in revenue, surpassing expectations of $11.24 billion, and earnings per share of 35 cents, exceeding the predicted 28 cents. However, quarterly revenue remained flat year-over-year, with only a 1% increase in revenue for the first three quarters of fiscal 2026. The report follows a year and a half into CEO Elliott Hill's leadership and recent layoffs of 775 workers.
Read at Fast Company
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