Nike Shares Drop 15% After Q3 Earnings Report Despite Beating Estimates
Nike (NKE) shares fell 15% after its Q3 earnings report, despite beating both revenue and profit estimates. The decline was driven by weak forward guidance, which projected a 2% to 4% sales decline in fiscal Q4 and ongoing weakness in the market. The stock's reaction highlights investor concerns about future performance.
Tickers: $NKE
Topics: Earnings Forward Guidance Revenue Outlook Stock Price Movement