Nike's Stock Soars on Stronger-Than-Predicted Earnings

Nike's stock price surged after the company shared its fiscal fourth-quarter results. The sportswear leader saw a 12% drop in revenue compared to last year, but it still managed to exceed what analysts had predicted. The company's profit also took a hit, falling to $211 million from $1. 5 billion the previous year. However, this was still better than what experts had forecasted. This quarter marks the third one under CEO Elliott Hill's leadership. He took over in October and has been working on a turnaround plan. In March, Nike had warned that this plan might temporarily slow down sales. But Hill is optimistic, stating that the company's efforts are starting to pay off and that improvements are on the horizon. Investors seemed to agree, as Nike's shares jumped over 10% after the earnings call. Despite this positive news, the stock has still seen a 17% decline so far in 2025.