Nike's third quarter 2026 EPS and revenue beat estimates, led by better-than-expected Greater China performance.

Nike reported third quarter revenues of $11.3 billion, flat year-over-year, with diluted EPS of $0.35, a 35% decline. Results were driven by a shift back to wholesale channels, while the direct-to-consumer segment, particularly digital, saw continued weakness.

Key Highlights

• Gross margin contracted by 130 basis points to 40.2%, attributed primarily to higher tariffs in North America.
• Greater China revenue declined 7% to $1.6 billion, outperforming expectations despite ongoing market challenges.
• Wholesale revenue grew 5% to $6.5 billion, while NIKE Direct revenue fell 4%, with NIKE Brand Digital sales decreasing by 9%.