Nike Stock Jumps After Better-Than-Expected Results Under Elliott Hill’s Turnaround Plan

December 19, 2024

Nike‘s stock got a welcome lift on Thursday after it reported earnings results led by its new chief executive officer Elliott Hill.

For the second quarter, Nike reported that revenues were down 8 percent to $12.4 billion over the same quarter last year, ahead of the $12.11 billion expected by analysts surveyed by Yahoo Finance. Net income was down 26 percent to $1.2 billion and diluted earnings per share was 78 cents, which represented a 24 percent decline. This was ahead of the 63 cents expected by analysts. FN