Nike Stock Falls Despite Earnings Beat as Retailer Issues Weak Sales Guidance

Key TakeawaysNike reported revenue and profit for the third quarter of fiscal 2024 that topped analysts' expectations.The company, however, said in its earnings call that revenue in the first half of fiscal 2025 is likely to decline low single digits as Nike shifts its product portfolio and contends with a subdued economic outlook. Nike shares initially jumped after the better-than-anticipated Q3 results but reversed course and finished the extended trading session down nearly 6%. Nike (NKE) stock fell near ...