Nike Beats Expectations with Strong Q4 Earnings Despite 12% Drop in China Sales

The iconic Nike swoosh design is displayed in a window of the athletic company’s new store on Broadway in Manhattan on April 24, 2026 in New York City.

Spencer Platt | Getty Images

Nike reported quarterly earnings and revenue that surpassed Wall Street forecasts, even as sales continued to decline in its crucial China market.

Key figures for the fiscal fourth quarter, compared with consensus estimates from LSEG, were:

• Earnings per share: 20 cents adjusted vs. 13 cents expected
• Revenue: $10.97 billion vs. $10.86 billion expected

The company noted an 8.9% increase in gross margin during the quarter, largely driven by an anticipated tariff refund of nearly $986 million, which analysts had not factored into their expectations.

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