Nike Inc. revealed on Thursday that its revenues in the third quarter of its fiscal 2025 landed at $11.3 billion, falling by 9% on an annual basis, but surpassing analyst's estimates.
In the reported trimester, net income plunged 32% year over year, coming in at $794 million. Meanwhile, earnings per diluted share amounted to $0.54, nosediving 30% compared to the same three-month period a year prior. Sales in China fell by 17%, in North America by 4%, and in Europe, the Middle East and Africa by 10%.
"Our outlook for the second half of fiscal 2025 driven by our 'Win Now' actions remains consistent with what we communicated last quarter … The operating environment is dynamic, but what matters most for NIKE is serving athletes with new product innovation and re-igniting brand momentum through sport," Chief Financial Officer Matthew Friend commented. Nike's stock jumped 4.01% in the after-hours trade to sell at $74.74 apiece after the report was published.
