Nike Sales Beat Expectations, but Profits Take a Hit

Nike Sales Beat Expectations, but Profits Take a Hit

Shares dropped 4.1 as full-year outlook failed to impress. Revenue rose 5 to $12.8B, surpassing estimates. EPS lower than Wall Street's average, mid-single-digit growth expected for fiscal 2024. Inventory difficulties caused slight decrease in gross margin.


User: Benzinga

Views: 5

Uploaded: 2023-06-30

Duration: 00:49