Q2 26 EPS
$0.53
BEAT +41.90%
Est. $0.37
Q2 26 Revenue
$12.43B
BEAT +1.79%
Est. $12.21B
vs S&P Since Q2 26
-35.9%
TRAILING MARKET
NKE -28.1% vs S&P +7.7%
Market Reaction
Did NKE Beat Earnings? Q2 2026 Results
Nike delivered a stronger-than-expected fiscal second quarter of 2026, posting diluted EPS of $0.53 against a consensus estimate of $0.38, a beat of 39.47%, even as the broader turnaround picture remained complicated. Revenue edged up 0.6% year-over-… Read more Nike delivered a stronger-than-expected fiscal second quarter of 2026, posting diluted EPS of $0.53 against a consensus estimate of $0.38, a beat of 39.47%, even as the broader turnaround picture remained complicated. Revenue edged up 0.6% year-over-year to $12.43 billion, with the headline growth masking a sharp channel divergence: wholesale revenues surged 8% to $7.50 billion as CEO Elliott Hill's "Win Now" strategy deepened retailer partnerships, while Nike Direct fell 8% to $4.60 billion, underscoring how far the rebalancing effort still has to run. The most significant drag on profitability was tariff pressure in North America, which contributed to a 300 basis point gross margin contraction to 40.6% and a 32% year-over-year decline in net income to $792.00 million. Greater China remained a notable soft spot, with revenues sliding 17% to $1.42 billion. Hill, who recently purchased roughly $1 million in company shares on the open market, has described fiscal 2026 as the "middle innings" of Nike's comeback, with the company investing heavily in brand marketing while working through a dynamic and pressured operating environment.
Key Takeaways
- • Wholesale revenue growth of 8% driven primarily by North America
- • North America revenue growth of 9% led by footwear (+9%) and equipment (+12%)
- • NIKE Brand Apparel growth of 4% across most geographies
- • Gross margin decline of 300 basis points to 40.6% due to higher tariffs in North America
- • NIKE Direct revenues declined 8% with NIKE Brand Digital down 14%
- • Greater China revenue declined 17% with EBIT down 49%
- • Converse revenue declined 30% across all territories
- • Demand creation expense up 13% from higher brand and sports marketing
NKE YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
NKE Revenue by Segment
With YoY comparisons, source: SEC Filings
NKE Revenue by Geography
With YoY comparisons, source: SEC Filings
“NIKE is in the middle innings of our comeback. We are making progress in the areas we prioritized first and remain confident in the actions we're taking to drive the long-term growth and profitability of our brands.”
— Elliott Hill, Q2 2026 Earnings Press Release
NKE Earnings Trends
NKE vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
NKE EPS Trend
Earnings per share: estimate vs actual
NKE Revenue Trend
Quarterly revenue: estimate vs actual
NKE Quarterly Results
7 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 BEAT | $0.28 | $0.35 | +24.25% | $11.28B | +0.44% |
| Q3 26 BEAT | $0.28 | $0.35 | +24.25% | $11.28B | +0.44% |
| Q2 26 BEAT | $0.37 | $0.53 | +41.90% | $12.43B | +1.79% |
| Q1 26 BEAT | $0.27 | $0.49 | +84.49% | $11.72B | +6.64% |
| Q4 25 BEAT FY | $0.12 | $0.14 | +13.45% | $11.10B | +3.48% |
| FY Full Year | $2.15 | $2.16 | +0.47% | $46.31B | +0.86% |
| Q3 25 BEAT | $0.28 | $0.54 | +94.88% | $11.27B | +2.13% |
| Q2 25 BEAT | $0.63 | $0.78 | +23.30% | $12.35B | +2.01% |