Nike shares sink on revenue worries

Despite a big earnings beat, $Nike (NKE.US)$ shares fell about 11% in extended trading after the company posted its third revenue miss in four quarters and cautionary guidance for its new fiscal year.

Accounting for the drop in after hours, Nike’s stock is down nearly 23% year to date. Only $Intel (INTC.US)$ and $Boeing (BA.US)$ have fared worse in the Dow this year.

The weaker consumer environment is weighing on sales, with North America and Asia/Latin America revenues missing Wall Street’s expectations. Chief Financial Officer Matthew Friend remarked in the earnings release that “our fourth quarter results highlighted challenges that have led us to update our Fiscal ’25 outlook.”