Mar 22, 09:46 PM

Nike Beats Earnings by 31%, Revenue by 1% in Q3 2024, Shares Fall on Weak Sales Guidance in China, 1H FY25

Nike's Q3 2024 results show beating earnings by ~31% and revenue expectations by ~1%. Total revenue is ~$12.4 Bn, up 0.3% YoY but down 6% QoQ. Net income is ~$1.2 Bn, down 5% YoY and 25% QoQ. Shares fell ~6% post-results due to weak sales guidance and slowing China sales. Forecasted softer sales in 1H FY25 led to a ~7% stock drop.

#Nike #China

Written with ChatGPT (GPT-3).