Investing.com - Nike reported Thursday second-quarter earnings that beat estimates, but revenue and margins fell short of analysts expectations pointing to a challenging backdrop ahead for the sportswear giant.
Nike Inc (NYSE:NKE) shares fell 5% in after-hours trade following the report.
The company reported adjusted earnings per share of $1.01 on revenue of $12.61B. Analysts polled by Investing.com anticipated EPS of $0.84 on revenue of $12.86B.
Inventories fell 11% to $7.52B, down from a year earlier, but was below estimates of $7.99B.
Gross margin increased 130 basis points to 44.7%, compared with estimates for 45.3%
Looking ahead, the company said its fourth-quarter results "highlighted challenges that have led us to update our Fiscal '25 outlook."
This content was originally published on Investing.com
