Nike Reports Q4 Beat, Shares Up Nearly 2%

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Nike (NYSE:NKE) reported its Q4 results, with EPS of $0.90 coming in better than the consensus estimate of $0.81. Revenue was down 1% year-over-year (up 3% on a currency-neutral basis) to $12.2 billion, compared to the consensus estimate of $12.07 billion. Shares were trading nearly 2% higher after-hours.

NIKE Direct revenue grew 7% year-over-year (or 11% on a currency-neutral basis) to $4.8 billion, and Wholesale revenue declined 7% (or down 3% on a currency-neutral basis) to $6.8 billion.

Revenues for the NIKE Brand and for Converse both declined 1% (up 3% on a currency-neutral basis) to $11.7 billion and $593 million, respectively.

In June 2022, the company’s Board of Directors authorized a new four-year, $18 billion share repurchase program of its Class B common stock.