Nike Q3 Earnings Beat Expectations, Wholesale Revenue Up 18%
March 21, 2023
Nike reported better-than-expected results for the third quarter — despite recent inventory excesses and challenges in China.
The athletic giant reported Q3 revenues of $12.4 billion, up 14% from the same time last year and ahead of expectations from analysts surveyed by Yahoo. Net income was $1.2 billion, down 11% compared to the prior year. Every region experienced currency-neutral growth in Q3, with sales in Greater China up 1%. FN