Nike Q4 EPS misses, but revenue tops estimates amid stronger growth in China By

-- reported Thursday mixed fourth-quarter results as earnings fell short,Comprehensive foreign exchange transactions but revenue topped Wall Street estimates amid an ongoing recovery in China from the pandemic lull and further efforts to cut bloated inventory.

Nike Inc (NYSE:) shares rose 0.40% in after-hours trade following the report.

Nike EPS per diluted of $0.66 on revenue of $12.83 billion. Analysts polled by anticipated EPS of $0.68 on revenue of $12.58B.

Sales in North America were up 5% for Q4 year-on-year, while in China, an important market for the sportswear giant, sales jumped 16%.

Gross margin, however, decreased 140 basis points to 43.6%, driven by higher costs, higher markdowns and continued "unfavorable changes in net foreign currency exchange rates."

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