Nike Stock Price Falls Drastically Amidst Disappointing Q4 Earnings

Nike shares took a tumble this morning due to the company announcing disappointing fiscal Q4 2024 results on Thursday. The NKE shares are currently down over 20% with the stock price at $75.04 USD at the time of writing.

Nike reported revenues of $12.6 billion USD in Q4 2024, down 2% from analysts' projections of $12.84 billion USD. The figure was also below last year's revenue of $12.8 billion USD in the same three-month period. The decline is especially detrimental for Nike, which has already had a tough year as its stock price has fallen 13% since January.

While the actual revenue decrease was minimal, the stock price fell at such a drastic rate due to a 10% sales decline that the brand projected for the current quarter, Q1 2025. The sales decline was originally projected by analysts to only be 3%, so the large difference shook investors' faith in the company. It was also announced that total sales for the 2025 fiscal year are expected to be down in the mid-single digits, as opposed to the 1% increase analysts initially projected.

Not all hope is lost for Nike, however, as net revenue for Q4 2024 saw a large increase from a year prior. The net revenue came in at $1.5 billion USD, which equates to 99 cents per share, compared to $1.03 billion USD in Q4 2023, which equated to 66 cents per share. Overall, Nike’s $51.4 billion USD in sales for the full 2024 fiscal year stayed consistent with 2023’s $51.2 billion USD.

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Nike Stock Price Falls Drastically Amidst Disappointing Q4 Earnings

Nike Stock Price Falls Drastically Amidst Disappointing Q4 Earnings

Nike Stock Price Falls Drastically Amidst Disappointing Q4 Earnings

Nike Stock Price Falls Drastically Amidst Disappointing Q4 Earnings

Nike Stock Price Falls Drastically Amidst Disappointing Q4 Earnings