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Why Nike Shares slipped after Q1 earnings release

Yahoo Finance Video

Yahoo Finance's Ines Ferre breaks down the key takeaways from Nike's Q1 earnings release.

Video Transcript

- Let's get to Ines Ferre. She's got the latest earnings report from Nike.

INES FERRE: And Adam, it's a top-line miss for Nike, with revenue coming in at 12.25 billion. The estimates were for $12.47 billion. Meanwhile, earnings per share coming in at $1.16. The street was estimated $1.12 for earnings per share.

Right now we're seeing that the stock is under pressure. A lot of what analysts are paying attention to here is what the company is going to say about sales guidance because of supply chain issues, because of factories closing in Vietnam due to COVID-19. Analysts are expecting the company to lower its sales guidance because of this. But we are seeing that the top line may have suffered because of some of these supply chain issues.

Year to date the stock is up 12%, underperforming the S&P 500. Right now it's slightly under pressure in the premarket in after hours.