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Nike Q4 EPS misses, but revenue tops estimates amid stronger growth in China

Investing.com -- Nike reported Thursday mixed fourth-quarter results as earnings fell short, but revenue topped Wall Street estimates amid an ongoing recovery in China from the pandemic lull and further efforts to cut bloated inventory.

Nike Inc (NYSE:NKE) shares rose 0.40% in after-hours trade following the report.

Nike reported EPS per diluted of $0.66 on revenue of $12.83 billion. Analysts polled by Investing.com anticipated EPS of $0.68 on revenue of $12.58B.

Sales in North America were up 5% for Q4 year-on-year, while in China, an important market for the sportswear giant, sales jumped 16%.

Gross margin, however, decreased 140 basis points to 43.6%, driven by higher costs, higher markdowns and continued "unfavorable changes in net foreign currency exchange rates."

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.