Why Nike Stock Just Crashed
Nike's earnings weren't bad -- but Nike's guidance was awful.
Overview
Nike (NYSE:NKE) stock tumbled 5.4% through 10:25 a.m. ET Friday after reporting only mixed earnings in its fiscal Q1 2027 report last night.
Heading into earnings, analysts expected Nike to earn $0.44 per share on sales of $11.35 billion. The good news is that Nike beat on earnings, reporting a per-share profit of $0.48. The bad news is that Nike nonetheless missed on earnings, reporting only $11.21 billion.
Details
And the worst news is that Nike also cut guidance.
Source
Originally published at www.fool.com.
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