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Here's What Key Metrics Tell Us About Nike (NKE) Q2 Earnings
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Nike (NKE - Free Report) reported $13.39 billion in revenue for the quarter ended November 2023, representing a year-over-year increase of 0.6%. EPS of $1.03 for the same period compares to $0.85 a year ago.
The reported revenue represents a surprise of -0.05% over the Zacks Consensus Estimate of $13.4 billion. With the consensus EPS estimate being $0.84, the EPS surprise was +22.62%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Nike performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Geographic Revenue- North America: $5.63 billion versus the eight-analyst average estimate of $5.54 billion. The reported number represents a year-over-year change of -3.5%.
Geographic Revenue- Greater China: $1.86 billion versus the eight-analyst average estimate of $1.94 billion. The reported number represents a year-over-year change of +4.2%.
Geographic Revenue- Asia Pacific & Latin America: $1.81 billion compared to the $1.64 billion average estimate based on eight analysts. The reported number represents a change of +12.9% year over year.
Geographic Revenue- Europe, Middle East and Africa: $3.57 billion compared to the $3.50 billion average estimate based on eight analysts. The reported number represents a change of +2.2% year over year.
Geographic Revenue- Greater China- Equipment: $33 million compared to the $28.77 million average estimate based on five analysts. The reported number represents a change of +32% year over year.
Geographic Revenue- Europe, Middle East and Africa- Footwear: $2.19 billion versus the five-analyst average estimate of $2.21 billion. The reported number represents a year-over-year change of +6%.
Geographic Revenue- Europe, Middle East and Africa- Apparel: $1.20 billion versus the five-analyst average estimate of $1.30 billion. The reported number represents a year-over-year change of -6.3%.
Revenue- Global Brand Divisions: $12 million versus $17.02 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a -33.3% change.
Revenue- Converse: $519 million versus $566.90 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a -11.4% change.
Revenue- Footwear: $8.61 billion compared to the $8.56 billion average estimate based on five analysts. The reported number represents a change of +1.2% year over year.
Revenue- Apparel: $3.77 billion versus the five-analyst average estimate of $3.77 billion. The reported number represents a year-over-year change of -0.5%.
Revenue- Equipment: $479 million versus $427.99 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +17.4% change.
Shares of Nike have returned +12.5% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Here's What Key Metrics Tell Us About Nike (NKE) Q2 Earnings
Nike (NKE - Free Report) reported $13.39 billion in revenue for the quarter ended November 2023, representing a year-over-year increase of 0.6%. EPS of $1.03 for the same period compares to $0.85 a year ago.
The reported revenue represents a surprise of -0.05% over the Zacks Consensus Estimate of $13.4 billion. With the consensus EPS estimate being $0.84, the EPS surprise was +22.62%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Nike performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Geographic Revenue- North America: $5.63 billion versus the eight-analyst average estimate of $5.54 billion. The reported number represents a year-over-year change of -3.5%.
- Geographic Revenue- Greater China: $1.86 billion versus the eight-analyst average estimate of $1.94 billion. The reported number represents a year-over-year change of +4.2%.
- Geographic Revenue- Asia Pacific & Latin America: $1.81 billion compared to the $1.64 billion average estimate based on eight analysts. The reported number represents a change of +12.9% year over year.
- Geographic Revenue- Europe, Middle East and Africa: $3.57 billion compared to the $3.50 billion average estimate based on eight analysts. The reported number represents a change of +2.2% year over year.
- Geographic Revenue- Greater China- Equipment: $33 million compared to the $28.77 million average estimate based on five analysts. The reported number represents a change of +32% year over year.
- Geographic Revenue- Europe, Middle East and Africa- Footwear: $2.19 billion versus the five-analyst average estimate of $2.21 billion. The reported number represents a year-over-year change of +6%.
- Geographic Revenue- Europe, Middle East and Africa- Apparel: $1.20 billion versus the five-analyst average estimate of $1.30 billion. The reported number represents a year-over-year change of -6.3%.
- Revenue- Global Brand Divisions: $12 million versus $17.02 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a -33.3% change.
- Revenue- Converse: $519 million versus $566.90 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a -11.4% change.
- Revenue- Footwear: $8.61 billion compared to the $8.56 billion average estimate based on five analysts. The reported number represents a change of +1.2% year over year.
- Revenue- Apparel: $3.77 billion versus the five-analyst average estimate of $3.77 billion. The reported number represents a year-over-year change of -0.5%.
- Revenue- Equipment: $479 million versus $427.99 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +17.4% change.
View all Key Company Metrics for Nike here>>>Shares of Nike have returned +12.5% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.