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Nike Reports Quarterly Results

Published December 26, 2025

Nike, Inc. (NKE) reported its fiscal 2026 second quarter results on Thursday, December 18. Despite the company reporting better-than-expected earnings, shares fell more than 10% following release of the report.

Nike posted its second quarter net revenue of $12.43 billion. This is up 1% from $12.35 billion reported in the same quarter last year and surpassed the $12.22 billion in revenue that analysts expected.

"We are making progress in the areas we prioritized first and remain confident in the actions we are taking to drive the long-term growth and profitability of our brands," said Nike CEO, Elliott Hill. "Fiscal 26 continues to be a year of taking action through Win Now, including realigning our teams, strengthening partner relationships, rebalancing our portfolio, and winning on the ground. We are finding our rhythm in our new sport offense, and setting ourselves up for the next phase of athlete-centered innovation in an elevated and integrated marketplace."

The company reported net income of $792 million or $0.53 per adjusted share for the quarter. This was down from net income of $1.16 billion or $0.78 per adjusted share reported last year.

Nike Brand revenue was $12.1 billion during the quarter, up 1% from this time last year. Nike Direct segment sales reached $4.6 billion, down 8% for the quarter. Nike Brand Digital sales were down 14%. Nike’s inventories were $7.7 billion in the quarter, a decrease of 3% compared to a year ago. Wholesale revenues were up 8% to $7.5 billion.

Nike, Inc. (NKE) shares ended the week at $60.93, up 3% for the week.

FedEx Delivers Earnings

FedEx Corp. (FDX) released its second quarter earnings report on Thursday, December 18. The company’s stock remained relatively unchanged despite reporting stronger-than-expected revenue and earnings.

Revenue came in at $23.47 billion for the quarter, up 7% from $21.97 billion at this time last year. This was higher than analysts’ expected quarterly revenue of $22.8 billion.

“FedEx delivered an outstanding second quarter as we successfully executed our growth strategy and advanced our network transformation, while navigating a highly challenging external environment,” said FedEx CEO, Raj Subramaniam. “I am extremely proud of our team members worldwide for their commitment to make every FedEx experience outstanding this Peak season.”

The company posted net income of $956 million or $4.04 per adjusted share for the quarter. This was up from $741 million or $3.03 per adjusted share one year ago.

FedEx reported that its planned spin-off of FedEx Freight into a separate publicly traded company will be completed by June 1, 2026. Operating income increased 31% during the quarter to $1.38 billion from a year ago. For fiscal 2026, FedEx expects sales to increase between 5% to 6% and adjusted earnings per share of $17.80 and $19.00. This compares to previous estimates of revenue growth between 4% to 6% and adjusted earnings per share of $17.20 and $19.00.

FedEx Corp. (FDX) shares ended the week at $296.33, up 3% for the week.

Paychex Releases Earnings Report

Paychex, Inc. (PAYX) released its second quarter earnings on Friday, December 19. The payroll service provider’s shares fell by approximately 3% following the release of the report.

For the quarter, the company reported total revenue of $1.56 billion. This was up 18% from $1.32 billion in the same quarter last year and narrowly missed analysts' expectations of $1.57 billion.

“We delivered solid second quarter results, with revenue increasing 18% and adjusted operating income growing 21% year-over-year,” said Paychex CEO, John Gibson. “We are proud of the significant progress we have made on key strategic priorities, enabling us to deliver the most comprehensive suite of HCM solutions in the industry. Disciplined cost management and productivity improvements, driven in part by our expanding AI capabilities, are enabling us to operate more efficiently while delivering enhanced value to clients.”

Paychex posted net income of $395.4 million or $1.10 per adjusted share for the quarter. This was down from net income of $413.4 million or $1.14 per adjusted share this time last year.

The Rochester, New York-based company saw an increase in revenue across its service segments. Professional Employer Organization (PEO) and Insurance Solutions revenue increased 6% to $336.9 million for the quarter. Management Solutions revenue rose 21% to $1.2 billion for the second quarter. The company’s total expenses reached $985.7 million, a 27% increase from $778.8 million year-over-year, primarily due to increased technology spending and costs related to the acquisition of Paycor. The company improved its outlook for fiscal 2026 and now expects adjusted diluted earnings per share to increase between 10% to 11%.

Paychex, Inc. (PAYX) shares closed at $114.19, up 1% for the week.

The Dow started the holiday week of 12/22 at 48,812 and closed at 48,711 on 12/26. The S&P 500 started the week at 6,865 and closed at 6,930. The NASDAQ started the week at 23,451 and closed at 23.593.