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NKE Earnings: Nike Q3 revenue up 5%; earnings beat estimates

Sneaker giant Nike, Inc. (NYSE: NKE) on Monday reported a decline in earnings for the third quarter of 2022, despite an increase in revenues. The results topped Wall Street’s expectations. Third-quarter revenues rose 5% annually to $10.9 billion, reflecting the continued improvement in demand conditions, and surpassed experts’ prediction. The company reported a net income […]

March 21, 2022 1 min read

Sneaker giant Nike, Inc. (NYSE: NKE) on Monday reported a decline in earnings for the third quarter of 2022, despite an increase in revenues. The results topped Wall Street’s expectations. Third-quarter revenues rose 5% annually to $10.9 billion, reflecting the continued improvement in demand conditions, and surpassed experts’ prediction. The company reported a net income […]

Sneaker giant Nike, Inc. (NYSE: NKE) on Monday reported a decline in earnings for the third quarter of 2022, despite an increase in revenues. The results topped Wall Street’s expectations.

Nike Q3 2022 earnings infographic

Third-quarter revenues rose 5% annually to $10.9 billion, reflecting the continued improvement in demand conditions, and surpassed experts’ prediction. The company reported a net income of $1.40 billion or $0.87 per share for the quarter, compared to $1.45 billion or $0.90 per share in the third quarter of 2021. Analysts were looking for a smaller number for the latest quarter.

Read management/analysts’ comments on Nike’s Q3 results

The company’s stock entered 2022 on a low note and declined steadily since then. It closed Monday’s trading lower but made modest gains in the after-hours following the quarterly report.