Core Insights - Nike's stock experienced a significant increase of over 6% following the release of its quarterly results, outperforming the S&P 500 index which rose by 0.3% [1] Financial Performance - For the fiscal first quarter of 2026, Nike reported revenue of $11.7 billion, reflecting a year-over-year increase of 1%. Wholesale revenue rose by 7% to $6.8 billion, while Nike Direct revenue decreased by 4% to $4.5 billion [2] - GAAP net income fell by 31% year-over-year to $727 million, equating to $0.49 per share. This performance exceeded analysts' expectations, who had forecasted revenue just under $11 billion and a per-share net income of $0.22 [3][6] Strategic Outlook - CEO Elliott Hill noted progress in Nike's turnaround program, particularly in North America, wholesale, and running sectors. However, he acknowledged the need for further work to align all sports, geographies, and channels amid a dynamic operating environment [4] - CFO Matt Friend provided guidance indicating that the wholesale business is expected to return to "modest" growth for the fiscal year, while Nike Direct is not anticipated to see revenue increases [4]