Nike $11.21 Billion Revenue Miss Sends NKE Down 3.64% to…
By Tobi Opeyemi Amure
AI summary of the source article
NIKE, Inc. reported revenue of $11,213 million for the quarter ended 31 August 2026, down 4% reported and missing LSEG consensus by approximately $107 million. Diluted earnings came in at $0.48 per share, beating the $0.43 consensus, while gross margin expanded 60 basis points to 42.8%. Despite the earnings beat, Nike shares fell 3.64% to $33.87 on 2 October 2026. Investor sentiment was weighed down by weak guidance for fiscal 2027, projecting high-single-digit revenue declines and adjusted diluted earnings of $1.15 to $1.35 per share, alongside a 26% currency-neutral revenue plunge in Greater China.
Why it matters
The report indicates that softer demand in Greater China and reduced fiscal 2027 projections overshadowed a modest quarterly earnings beat.
Key facts
- Quarterly revenue was $11,213 million, down 4% reported and missing LSEG consensus of $11.32 billion.
- Diluted earnings were $0.48 per share, exceeding the $0.43 estimate, while net income fell 2% to $712 million.
- Nike projected fiscal 2027 revenue down in the high single digits with adjusted diluted EPS between $1.15 and $1.35.