The report is expected at 4:15 PM ET. As per analysts’ consensus forecast, the company generated a net income of $0.70 per share in the first three months of FY24, which is lower than the $0.93/share profit it earned in the same period of last year. The revenue forecast is $12.28 billion, down 3.2%.
In the fourth quarter, earnings missed estimates for the first time in nearly three years while revenues topped expectations. Strong footwear sales pushed up revenues to $12.83 billion in Q4. Sales grew in all regions, underscoring the popularity of the Nike brand across geographies. Meanwhile, net income and earnings per share declined around 28% to $1.03 billion and $0.66 per share respectively.