Nike beats quarterly revenue estimates on buoyant sneaker demandThe company's fourth-quarter revenue rose to $12.83 billion from $12.23 billion a year earlier. Analysts had expected $12.59 billion.
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Nike on Thursday beat Wall Street estimates for quarterly revenue, benefiting from a recovery in China following the lifting of pandemic restrictions and buoyant demand for its sneakers such as Air Jordan and LeBron 20.
The company's fourth-quarter revenue rose to $12.83 billion from $12.23 billion a year earlier. Analysts had expected $12.59 billion, according to Refinitiv data.