Nike, Inc. (NYSE: NKE) on Thursday reported results for the first three months of fiscal 2024, reporting a modest rise in revenues.
The sneaker giant reported net income of $1.45 billion or $0.94 per share for the August quarter, compared to $1.47 billion or $0.93 per share in the corresponding period of fiscal 2023.
Nike’s first-quarter revenues came in at $12.94 billion, compared to $12.69 billion in the same period of the previous year. Revenues of the Footwear segment, which accounts for around 65% of the total, increased by 4%.
“Moving forward, we are laser-focused on scaling these successes with greater consistency and speed as we continue to integrate and streamline our business. This is how we’ll extend our leadership position and drive growth over the long term,” said John Donahoe, Nike’s chief executive officer.
