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Amit Kukreja, stock market analyst, notes that Nike posted earnings per share of $0.48 versus the $0.43 expected. However, revenue came in at $11.2 billion, missing expectations of $11.32 billion and marking a 4% year-over-year decline.
Kukreja points out that Nike Direct was a particular area of weakness, with revenue down 8% year-over-year and a drop in Nike Brand Digital sales.
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Kukreja has previously highlighted performance trends among major companies. Earlier this year, he noted that Apple led Mag 7 stock gains, while Nvidia was close behind and Tesla posted losses. In another report, Kukreja suggested AVGO could reach $600 per share if earnings per share targets are achieved by fiscal 2028.