Categories AlphaGraphs, Consumer, Earnings

NKE Earnings: Highlights of Nike’s Q1 2023 results

Nike, Inc. (NYSE: NKE) has reported a decrease in net profit for the first quarter of 2023, despite a modest increase in revenues. The company’s stock suffered a big loss following the announcement this week.

First-quarter net income dropped to $1.47 billion or $0.93 per share from $1.87 billion or $1.16 per share in the corresponding period of last year. The bottom line was negatively impacted by higher costs.

Meanwhile, revenues moved up 5% year-over-year to $12.69 billion. Weakness in the apparel segment was more than offset by higher sales in the core footwear division.


Read management/analysts’ comments on Nike’s Q1 2023 earnings


“NIKE’s first quarter results set the foundation for another year of strong growth. Our focus continues to be the consumer, as we take action to navigate near-term dynamics while expanding long-term structural benefits through our Consumer Direct Acceleration strategy,” said Matthew Friend, the chief financial officer of Nike.

Prior Performance

  • Nike Q4 2022 earnings infographic
  • Nike reports Q1 2022 earnings results

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

Most Popular

AVGO Earnings: Broadcom Q4 profit beats estimates; revenue up 4%

Semiconductor company Broadcom, Inc. (NASDAQ: AVGO) on Thursday reported stronger-than-expected earnings for the fourth quarter. The tech firm also provided guidance for fiscal 2024. Earnings, excluding non-recurring items, came in

Costco’s (COST) stock hits a record high ahead of earnings. Here’s what to look for

As Costco Wholesale Corporation (NASDAQ: COST) prepares to publish its first-quarter earnings, the warehouse behemoth’s stock climbed to an all-time high this week. When it reports the results next week,

Dollar General (DG) faces challenges from inventory shrink in Q3

Shares of Dollar General Corporation (NYSE: DG) turned red on Thursday despite the company delivering better-than-expected results for the third quarter of 2023. The stock has dropped 46% year-to-date. Although

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top