Nike tops Q4 estimates with $10.97 billion revenue but posts a 1% annual decline, boosted by tariff refunds lifting net income to $1.1 billion.
Nike reported fourth-quarter revenue of $10.97 billion, exceeding analyst expectations of $10.86 billion but marking a 1% year-over-year decline. The company attributed improved profitability to $1.1 billion in net income, up from $211 million a year earlier, driven by tariff refunds and cost adjustments.
Despite beating per-share earnings estimates of 13 cents with 20 cents adjusted, Nike’s sales in Greater China fell 12%, underscoring ongoing turnaround challenges. Revenue growth remains sluggish, reflecting broader struggles in its core markets.
Shares received a modest lift following the results, though CEO Elliott Hill acknowledged the company has yet to reach its full potential. The stock’s near-term outlook hinges on execution in key regions and product categories.