Nike reported earnings on Thursday as investors remain focused on any signs of a consumer slowdown in North America and slower growth in China.
Nike's (NKE) fiscal first quarter adjusted earnings per share of $0.94 topped analyst estimates of $0.75. Revenue slightly missed Street expectations, $12.94 billion versus the $12.99 billion estimate. Great China revenue of $1.74 billion missed estimates of $1.83 billion. Morningstar Equity Analyst David Swartz tells Yahoo Finance Live that margins were a little better than he had been expecting but that "Nike has a history of consistently beating margin expectations, so you know, I think there's a little bit of sandbagging that Nike tends to bring down expectations to make it easier to beat them." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
The headline numbers for Nike (NKE) give insight into how the company performed in the quarter ended August 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.