Nike, Inc. (NYSE: NKE) Thursday reported an increase in earnings for the fourth quarter of 2024, despite a decline in revenues. Earnings also beat estimates.
Fourth-quarter net income came in at $1.50 billion or $0.99 per share, compared to $1.03 billion or $0.66 per share in the corresponding period of fiscal 2023. The bottom line exceeded Wall Street’s forecast.
Meanwhile, revenues decreased to $12.61 billion in the May quarter from $12.82 billion in the prior-year period. At $5.1 billion, NIKE Direct revenues were lower year-over-year.
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