From The Economic Times · Shreya Biswas · · 1m
Nike stock falls after revenue miss
Nike stock drops 4% as revenue misses forecast and layoffs planned for 2027.
In brief
Nike stock drops 4% as revenue misses forecast and layoffs planned for 2027. Nike reported $11.21 billion revenue for Q1 2027, down 4% from $11.32 billion expected, with layoffs announced for 2027 and revenue decline forecast. Originally reported by The Economic Times.
Nike stock falls
Nike stock dropped 4% in after-hours trading after announcing layoffs for 2027 and a revenue decline forecast for fiscal 2027.
Revenue misses forecast
Nike reported fiscal first-quarter revenue of $11.21 billion, down 4% from $11.32 billion expected by analysts.
Earnings beat expectations
Earnings per share came in at 48 cents, ahead of the 43 cents expected, while net income fell to $712 million from $727 million.
Layoffs announced for 2027
Nike announced layoffs for 2027 as part of a restructuring plan to address revenue decline forecasts.
Revenue decline forecast
Nike forecasts revenue decline by a high-single-digit percentage in fiscal 2027, despite beating quarterly earnings per share expectations.
What matters most
Nike reported $11.21 billion revenue for Q1 2027, down 4% from $11.32 billion expected, with layoffs announced for 2027 and revenue decline forecast.
