Nike's fiscal first quarter earnings have topped analyst expectations once again. The company reports a $10.7 billion revenue, topping the expected $10.44 billion thanks to product innovation and online sales.

According to CNBC, following the news, Nike's shares rose more than 5.5 percent, a new record high for the brand. Its revenue is up by a total of 7.2 percent, growing from $9.95 billion a year ago to $10.66 billion. The brand's net income also welcomed massive growth in this year's first quarter, rising by 25 percent to $1.4 billion, driven by revenue growth and gross margin expansion.

The sportswear company is putting the tremendous growth down to the brand's investments to sell more sneakers and apparel in its stores and online, which are now paying off. “Our targeted strategic investments are accelerating Nike's digital transformation and extending our competitive advantage,” explained Andy Campion, Executive Vice President and Chief Financial Officer at Nike.

Nike CEO Mark Parker said that product innovation, like Nike's new Joyride running shoe, and stronger e-commerce, helped boost results. "Our strong start to FY20 highlighted the depth and balance of NIKE’s complete offense,” he said. “Nike's strong product innovation, combined with our industry-leading digital experiences, continue to deepen our consumer relationships around the world."

The company also sites full price sales, the expansion of its women's business, and brand ambassadors such as tennis champion Serena Williams as other key factors in its fiscal growth. Converse is also up by a significant eight percent, resulting in a $555 million revenue.

Nike recently teased a collaboration with Lebron James.

For a bigger scoop of Nike, watch below.

What To Read Next

*If you submitted your e-mail address and placed an order, we may use your e-mail address to inform you regularly about similar products without prior explicit consent. You can object to the use of your e-mail address for this purpose at any time without incurring any costs other than the transmission costs according to the basic tariffs. Each newsletter contains an unsubscribe link. Alternatively, you can object to receiving the newsletter at any time by sending an e-mail to

Web Accessibility Statement

Titelmedia (Highsnobiety), is committed to facilitating and improving the accessibility and usability of its Website, Titelmedia strives to ensure that its Website services and content are accessible to persons with disabilities including users of screen reader technology. To accomplish this, Titelmedia has engaged UsableNet Inc, a leading web accessibility consultant to help test, remediate and maintain our Website in-line with the Web Content Accessibility Guidelines (WCAG), which also bring the Website into conformance with the Americans with Disabilities Act of 1990.


Please be aware that our efforts to maintain accessibility and usability are ongoing. While we strive to make the Website as accessible as possible some issues can be encountered by different assistive technology as the range of assistive technology is wide and varied.

Contact Us

If, at any time, you have specific questions or concerns about the accessibility of any particular webpage on this Website, please contact us at, +49 (0)30 235 908 500. If you do encounter an accessibility issue, please be sure to specify the web page and nature of the issue in your email and/or phone call, and we will make all reasonable efforts to make that page or the information contained therein accessible for you.