Nike Stock Jumps on Better-Than-Expected Results as CEO Touts Progress in Turnaround

Nike (NKE) posted better-than-expected results for its fiscal fourth quarter as the company works on its turnaround plan, sending shares higher in extended trading Thursday. 

The sneaker and sportswear giant’s revenue fell 12% year-over-year to $11.1 billion, though the figure topped the analyst consensus compiled by Visible Alpha. Net income of $211 million, or 14 cents per share, fell from $1.5 billion, or 99 cents per share, in the year-ago quarter, but also beat Street projections.

The quarter represents Nike’s third under CEO Elliott Hill, who took the helm of the company last October, and comes after Nike warned in March that its turnaround plan could hurt sales in the short term, but that its efforts to shift its portfolio would likely start to ease after the fourth quarter.

“Moving forward, we expect our business to improve as a result of the progress we’re making,” Hill said Thursday.

CFO Matt Friend, who said the fourth quarter “reflected the largest financial impact” from the company’s turnaround efforts, forecast current-quarter revenue falling by a mid-single-digit percentage from a year earlier, in what would represent a marked improvement from recent double-digit declines.

Friend also said the company expects to take a $1 billion hit from the Trump administration’s tariffs, if left at current levels. However, he told investors during Nike’s earnings conference call that the company intends to “fully mitigate the impact of these headwinds over time.”

Nike shares jumped over 10% in extended trading following the company’s earnings call. The stock was down 17% for 2025 through Thursday’s close.

This article has been updated since it was first published to include additional information and reflect more recent share price values.