Nike Inc ( NKE ) reported financial results for the third quarter of fiscal 2025 after market close on Thursday. Here’s a rundown of the results.

Q3 Earnings: Nike reported third-quarter revenue of $11.27 billion, beating analyst estimates of $11.01 billion. The athletic footwear and apparel company reported third-quarter earnings of 54 cents per share, beating analyst estimates of 28 cents per share, according to Benzinga Pro.

Total revenue was down 9% year-over-year. Here’s a look at sales by region:

North America: down 4%

Greater China: down 17%

Europe, Middle East & Africa: down 10%

Asia Pacific and Latin America: down 11%

Nike Direct revenues were $4.7 billion in the quarter, down 12% year-over-year. Nike Brand revenues totaled $10.9 billion, down 9%, and Wholesale revenues fell 7% to $6.2 billion.

Inventories totaled $7.5 billion at the quarter’s end, down 2% on a year-over-year basis. The company ended the quarter with $10.4 billion in cash, equivalents and short-term investments.

“The progress we made against the ‘Win Now’ strategic priorities we committed to 90 days ago reinforces my confidence that we are on the right path,” said Elliott Hill, president and CEO of Nike.

“What’s encouraging is NIKE made an impact this quarter leading with sport — through athlete storytelling, performance products and big sport moments.”

Hill, a longtime Nike veteran, took over for former CEO John Donahoe in October.

Nike CFO Matthew Friend said the company’s outlook for the second half of fiscal 2025 remains consistent with commentary from last quarter. Nike is expected to provide forward guidance on its earnings call, which is set for 5 p.m. ET

NKE Price Action: Nike shares were up 2.62% after-hours, trading at $73.60 at the time of publication Thursday, according to Benzinga Pro.

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