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Nike beats guidance on China revenue

Nike recently released its financial report for the third quarter of the 2024 fiscal year, achieving a revenue of $12.4 billion for the quarter, slightly higher than last year and above the company’s previous guidance. Net profit decreased by 5% to $1.2 billion, surpassing analyst expectations. Of note is the growth in the Greater China region, with revenue reaching $2.08 billion, a 6% YoY increase, maintaining six consecutive quarters of growth. The Greater China region is the only region, apart from the North American market, to achieve profit growth in the third quarter, with revenue in North America reaching $5.07 billion, a 3% YoY increase.

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