Nike Inc. said on Thursday that its revenues for the fourth quarter of its fiscal 2024 landed at $12.6 billion, falling 2% compared to the same period last year and missing estimates. Net income jumped 45% on an annual basis to $1.5 billion, or $0.99 per diluted share.
For the twelve months ending May 31, the sports goods company's revenues were virtually unchanged year on year at $51.3 billion, while EPS climbed 15% to $3.73
"We are taking our near-term challenges head-on, while making continued progress in the areas that matter most to NIKE's future – serving the athlete through performance innovation, moving at the pace of the consumer and growing the complete marketplace," CEO John Donahoe stated.
Nike's shares slid 4.87% in after-hours trading following the results announcement.
