Company news: NIKE (NKE) quarterly earnings beat analysts’ estimates

NIKE (NKE) reported Q2 FY2024 earnings of $1.03 per share (versus $0.85 per share in Q2 FY2023), beating analysts’ consensus estimate of $0.84 per share.

The company’s quarterly revenues amounted to $13.400 bln (+0.8% y/y), roughly in line with analysts’ consensus estimate of $13.391 bln.

The company also said it expects Q3 FY2024 revenue growth to be slightly negative y/y and Q4 FY2024 revenues to be up low single-digits y/y with the full FY2024 revenues now seen growing approximately 1% y/y.

NKE fell to $107.60 (-12.18%) in pre-market trading.

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