Nike reported its Q1 earnings for fiscal year 2026 with an EPS of USD 0.49, surpassing expectations. The revenue for the quarter reached USD 11,720 million, exceeding the IBES estimate of USD 10,998 million and analysts' expectations. Nike's gross margin decreased by 320 basis points to 42.2%, and the company posted a pretax profit of USD 922 million. CEO Elliott Hill's turnaround efforts showed progress, with improvements in North America and the wholesale business, although challenges remain in regions like China. The stock initially rose 4.7% in after-hours trading, indicating strong performance and future prospects.