(Nike) Nike announced revenue of $12.23 billion in the fourth quarter of 2022, surpassing estimates of $12.06 billion. The revenue is down 1% from the prior year but 3% higher on a currency-neutral basis.
Nike reported direct sales of $4.8 billion in the quarter, up 7% from the prior year. Wholesale business sales fell 7% to $6.8 billion.
The company’s gross margin fell by 80 basis points to 45% in the fourth quarter.
Nike’s earnings per share came at 90 cents, higher than estimates of 81 cents. The per-share earnings was 3% below last year.
The company announced that it returned about $1.5 billion to shareholders in the fourth quarter in the form of dividends and share repurchases. The total amount returned in the FY22 was $5.8 billion.
NKE: NYSE is down -2.50% in premarket.
