Nike's shares surged over 10% in after-hours trading despite reporting its worst quarterly earnings in over three years. CEO Elliott Hill, back from retirement, highlighted a turnaround plan focusing on core sports products, particularly running, showing signs of improvement. While Q4 revenue surpassed expectations at $11.1 billion, it was still the lowest since 2022. The company attributes the poor results to its turnaround program's impact and expects headwinds to ease. Nike is also addressing challenges like over-reliance on direct-to-consumer sales and the impact of US tariffs.

Prepared by Christopher Adams and reviewed by editorial team.