Nike shares slip after hours despite Q4 beats; revenue dips 1% to $10.97 billion

According to CNBC, Nike shares fell about 2% in after-hours trading Tuesday to around $40 even after the company reported fiscal 2026 fourth-quarter results that topped expectations. Total revenue slipped 1% year over year to $10.97 billion versus $10.86 billion expected, while earnings per share rose 42% to 20 cents, beating a 13-cent consensus; the EPS figure excluded a 52-cent benefit tied to an expected recovery of IEEPA tariffs that were overturned by the Supreme Court earlier this year. The stock was down about 35% year to date before the after-hours move. Management reiterated its expectation that EPS will be roughly flat year over year from the reported quarter through the first two quarters of fiscal 2027. Nike said wholesale revenue rose 4% to $6.6 billion, while Nike Direct revenue fell 7% to $4.1 billion; Converse sales dropped 32% to $244 million. Nike reported inventories were roughly flat versus last year.