Nike Inc (NYSE:NKE, XETRA:NKE) reported second-quarter earnings on Thursday that beat Wall Street revenue expectations, though earnings per share fell compared with the same period last year.
The sportswear giant posted revenue of $12.43 billion, slightly above analysts’ estimate of $12.24 billion.
Nike brand revenue reached $12.12 billion, surpassing the expected $11.88 billion.
Earnings per share came in at $0.53, higher than the $0.37 expected by analysts, but down from $0.78 a year earlier. Gross margin was 40.6%, in line with forecasts but 300 basis points lower than the prior year.
Inventory at the end of the quarter totaled $7.73 billion, slightly below the $7.8 billion expected. In Greater China, EBIT came in at $191 million, well below the $335.3 million forecast.
Investors reacted cautiously to the results, reflecting concerns over margin pressures and regional performance.
Shares of Nike fell 1.4% in after-hours trading following the release.