Nike (NKE) Q2 2026 Earnings

Yes. Nike reported Q2 2026 earnings of $0.53 a share on Dec 18, 2025, beating the $0.37 consensus estimate by 41.9%. Revenue was $12.4B against a $12.2B estimate.

Nike delivered a stronger-than-expected fiscal second quarter, with GAAP diluted EPS of $0.53 beating the $0.37 consensus estimate by 41.90%, even as net income fell 32% year over year to $792 million amid meaningful margin pressure. Revenue edged up 0.6% to $12.43 billion, clearing the $12.21 billion analyst estimate by 1.79%, though the headline growth masked a dramatic reshaping of how Nike sells its products. The quarter's defining story was a sharp channel pivot: wholesale revenues surged 8% to $7.50 billion while Nike Direct revenues slid 8% to $4.60 billion, reflecting CEO Elliott Hill's deliberate strategy of rebuilding wholesale partner relationships after years of over-indexing on direct-to-consumer. That repositioning, combined with tariff-driven cost increases that compressed gross margin 300 basis points to 40.6%, largely explains the earnings trajectory. Hill, who recently purchased roughly $1 million in company shares on the open market, framed fiscal 2026 as a turnaround year, telling investors the company is in the "middle innings" of its recovery and remains committed to the actions needed to restore long-term growth.