The past quarter was one of the best in Nike's modern history.
Nike reported operating results for the second quarter of the fiscal year 2023, which ended Nov. 30. Revenue for the largest sports brand increased 17% to $13.3 billion.
The past quarter was one of the best in Nike's modern history. Analysts had forecast the company's revenue to be $12.57 billion. Presented results were the best in the last 42 quarters, not counting the dynamics of 2021. But then the low base due to the 2020 constraints had an impact.
Nike's revenue for the period rose 18 percent to $12.7 billion. Sales of the company-controlled Converse brand rose 5% to $586 million.
"Nike's results this quarter are a testament to our deep connection with consumers," commented Nike Inc. president John Donahoe. He said the broad-based growth was driven by expanded digital leadership and brand strength.