NIKE (NKE) Revenue — Quarter Ended Feb 28, 2023
Revenue for the quarter increased compared to the same period last year, driven by higher wholesale revenues. However, sequentially, it declined from the prior quarter, reflecting seasonal and operational factors.
Key takeaway
Quarter ended Feb 28, 2023 · FY2023 Q3
Revenue for the quarter increased compared to the same period last year, driven by higher wholesale revenues. However, sequentially, it declined from the prior quarter, reflecting seasonal and operational factors.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$12.4B
Revenue reported for this quarter.
Quarter-over-quarter
-6.9%
Change from the immediately preceding quarter.
Year-over-year
+14.0%
Change from the comparable year-ago quarter.
Trailing four quarters
$50.6B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| May 31, 2022 | $12.2B | -0.9% |
| Aug 31, 2022 | $12.7B | +3.6% |
| Nov 30, 2022 | $13.3B | +17.2% |
| Feb 28, 2023 | $12.4B | +14.0% |
Revenue performance
Reported revenue rose year-over-year, with gross profit also improving. Operating expenses increased, partly offsetting the top-line gain, while the company continued to manage inventory levels.
Quarterly comparison
Compared to the immediately preceding quarter, revenue decreased, reversing the prior trend of sequential growth. When measured against the same quarter one year earlier, revenue showed an increase.
What to watch
Monitor the company's ability to maintain year-over-year revenue growth amid shifting consumer demand and ongoing inventory adjustments.