NIKE (NKE) Reports Q3 Earnings: What Key Metrics Have to Say
Nike (NKE) reported $12.43 billion in revenue for the quarter ended February 2024, representing a year-over-year increase of 0.3%. EPS of $0.98 for the same period compares to $0.79 a year ago.
The reported revenue represents a surprise of +1.22% over the Zacks Consensus Estimate of $12.28 billion. With the consensus EPS estimate being $0.69, the EPS surprise was +42.03%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how NIKE performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Geographic Revenue- North America: $5.07 billion compared to the $4.79 billion average estimate based on eight analysts. The reported number represents a change of +3.2% year over year.
Geographic Revenue- Asia Pacific & Latin America: $1.65 billion compared to the $1.68 billion average estimate based on eight analysts. The reported number represents a change of +2.9% year over year.
Geographic Revenue- Europe, Middle East and Africa: $3.14 billion compared to the $3.20 billion average estimate based on eight analysts. The reported number represents a change of -3.3% year over year.
Geographic Revenue- Greater China: $2.08 billion versus the eight-analyst average estimate of $2.02 billion. The reported number represents a year-over-year change of +4.5%.
Geographic Revenue- Brand-Nike: $11.95 billion compared to the $11.72 billion average estimate based on seven analysts.
Geographic Revenue- North America- Equipment: $202 million versus the five-analyst average estimate of $175.58 million. The reported number represents a year-over-year change of +17.4%.
Revenue- Converse: $495 million compared to the $583.16 million average estimate based on eight analysts. The reported number represents a change of -19.1% year over year.
Revenue- Global Brand Divisions: $9 million compared to the $12.03 million average estimate based on seven analysts. The reported number represents a change of -25% year over year.
Revenue- Corporate: -$14 million versus $4.23 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a -216.7% change.
Revenue- Footwear: $8.16 billion versus $7.95 billion estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +2.4% change.
Revenue- Equipment: $487 million versus the five-analyst average estimate of $420.81 million. The reported number represents a year-over-year change of +20.8%.
Revenue- Apparel: $3.29 billion versus the five-analyst average estimate of $3.33 billion. The reported number represents a year-over-year change of -2.7%.
View all Key Company Metrics for NIKE here>>>
Shares of NIKE have returned -4.8% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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NIKE, Inc. (NKE) : Free Stock Analysis Report
