Nike Stock Plummets After Missing Revenue Estimates – Expert Insights Here
Beaverton, Oregon – Nike reported a mix of results in its fourth quarter, with earnings coming in above expectations but revenue falling short. The athletic apparel giant reported adjusted earnings of $1.01 per share, exceeding the estimated $0.85. However, revenue of $12.61 billion fell short of the estimated $12.86 billion. Morningstar senior equity analyst David Swartz noted that the revenue miss led to a drop in Nike’s shares in after-hours trading. Despite slightly better-than-expected revenue …