Profit Beat, Revenue Miss: Nike’s Fiscal 2027 Q1 Earnings Shock
Using filings and coverage as the record, this case reconstructs October (month 10) 1, 2026, when Nike posted fiscal 2027 Q1 revenue of 112 hundred-million dollars, down 4%, with China plunging 26% and a high-single-digit full-year decline guided, sending shares down 10%.
Updated Oct 16, 2026
Established facts
Nike reported fiscal 2027 Q1 (June-August (months 6-8)) results on October (month 10) 1, 2026. Revenue was 112 hundred-million dollars, down 4% on the year and short of the 113 hundred-million-dollar market forecast, while earnings per share of 48 cents beat the 44-cent estimate but missed 49 cents a year earlier. Greater China revenue plunged 26% on a currency basis for the steepest quarterly drop on record, and Greater China operating profit near 2 hundred-million 5,000 ten-thousand dollars missed the 3 hundred-million 1,000 ten-thousand-dollar estimate. The company guided fiscal 2027 annual revenue to a high-single-digit decline with adjusted earnings per share of 1.15-1.35 dollars, and shares crashed 10% the next day. The same day it unveiled the Pace restructuring program, pursuing 25 hundred-million dollars in cumulative savings against up to 10 hundred-million dollars in pre-tax restructuring charges through fiscal 2031.
How to read it
A profit beat with crashing shares shows markets watching for revenue recovery, not cost cuts. Reading the Q1 4% decline with the high-single-digit annual decline guide implies the remaining quarters must run 9-12% declines. The 26% Greater China plunge reads beyond a one-region problem as a signal of soft global demand and tougher rivalry. A Pace launch that swallows restructuring charges shows the turnaround leaning on cost-structure repair rather than sales recovery.
Limits
This case is a snapshot of results day, October (month 10) 1, 2026. The video’s cited 70% fall from the peak, 6% footwear decline, and 13% digital decline were not separately confirmed in these reports and are recorded as speaker citations only. Shares keep moving after the report, and when restructuring effects will reach results remains unverified. A large past drop alone never marks a bottom.
Sources
- Nike Launches Pace and Posts $11.2B Quarter With China Revenue Down 26 PercentAccessed Oct 16, 2026
- Nike beats Q1 profit estimates but sees fiscal 2027 revenue falling high single digitsAccessed Oct 16, 2026
- Nike's Stock Drops 10% As Financial Results DisappointAccessed Oct 16, 2026