Nike hits stumbling block after record quarterly earnings, shares fall

Nike executives said they expect revenue for the third quarter, ending in February, to grow by a high single-digit percentage, and reiterated the same expectation for the full year

After hitting a record high on Thursday, Nike Inc. is finding it harder to keep investors happy.

Even though the company posted quarterly results that sailed past Wall Street estimates, the shares dipped in Friday trading, suggesting some investors were looking for an even bigger upside surprise.

Fiscal second-quarter profit rose to 70 cents a share, Nike said, beating 58-cent average of analysts’ estimates. The company overcame headwinds from tariffs that were stiffest in the period, boosting sales by 10% to $10.3 billion and topping projections.

“Our brand is connecting deeply with consumers everywhere,” Chief Executive Officer Mark Parker, who will step down