Nike beats quarterly revenue estimates as discounts draw demand

By Thomson Reuters Mar 21, 2024 | 3:19 PM

(Reuters) – Nike beat Wall Street estimates for quarterly revenue on Thursday, as deep discounts on its athletic apparel and sneakers during the holiday season helped it reel in shoppers.

The world’s largest sportswear maker said revenue rose to $12.43 billion for the third quarter from $12.39 billion a year earlier. Analysts had expected $12.28 billion, according to LSEG data.

(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Krishna Chandra Eluri)