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Nike (NKE) reported strong fiscal Q1 results after market hours on Tuesday, achieving earnings of $0.49 per share, which surpassed expectations of $0.27 by 81%. Total sales reached $11.72 billion, exceeding estimates of $11 billion and up from $11.58 billion year-over-year. Following the announcement, Nike’s stock surged over 6% in trading, nearing its 52-week high of $85, after hitting a low of $52 in April.
Despite a decline in earnings compared to the previous year ($0.70), Nike’s performance was supported by strong wholesale distribution and growth in the North American segment, although digital sales lagged and challenges persisted in China due to higher tariffs. For Q2 of fiscal 2026, Nike expects a revenue decline of low single digits, consistent with the Zacks Consensus estimate of $11.95 billion.
Nike continues to maintain investor confidence, holding a Zacks Rank #3 (Hold) and showing a substantial average earnings surprise of 53.71% over the last four quarters. Looking ahead, analysts project a 1% dip in total sales for FY26, with a rebound of 6% expected in FY27, bringing total sales to approximately $48.59 billion.
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