Sneaker giant Nike, Inc. (NYSE: NKE) will report fourth-quarter earnings today after the closing bell. The company’s stock traded slightly higher ahead of the announcement.
Listen to Nike’s Q2 2024 earnings call live and read the real-time transcript
As per analysts, Nike is estimated to have generated a net income of $0.78 per share in the final three months of FY24, which is higher than the $0.66 share earned in the same period of last year. The revenue forecast for Q4 is $11.99 billion, down 6.5% year-over-year.
In the third quarter, earnings decreased to $1.17 billion or $0.77 per share from $1.24 billion or $0.79 per share in the year-ago quarter. Meanwhile, revenues were unchanged year-over-year at $12.43 billion. NIKE Direct revenue came in at $5.4 billion, slightly higher on a reported and currency-neutral basis.