5 Biggest Takeaways From Nike's 2020 Q1 Earnings Call

Despite the predictions Wall Street investors, Nike surged past expectations this quarter. Analysts called for a six percent rise to 71 cents per share along with a five percent jump in revenue to a total of $10.45 billion. Instead, the Swoosh's earnings increased 29 percent to 86 cents per shape while revenue grew seven percent to a massive $10.66 billion. "It was a quarter that proved the depth and balance of our complete offense, building on the strengths of our foundational business drivers and capitalizing on the untapped dimensions of our portfolio," CEO Mark Parker said.

While it may be too early to call it a full-on basketball comeback, Parker was enthusiastic about the brand's strides in the hoops category. Specifically, he touted the recently released AlphaDunk as well as Antetokounmpo's Zoom Freak 1, the latter of which Parker calls "the largest initial signature launch in Nike Basketball history."

Nike's push for accessibility for all athletes will continue with more Flyease shoes, namely a new performance basketball sneaker and the introduction of the laceless technology to the Air Jordan 1.

After using him to unveil the Air Jordan 34 in Harlem, Jordan Brand is already in the lab working on more product for Zion Williamson. "We’re proud that Zion will wear the Air Jordan 34 to start the season and we’re already developing new innovation with one of the NBA’s most anticipated rookies," Parker said.

By introducing new technology like Joyride and adding existing technology like React to new sneakers, Nike has been able to thrive off its new designs. "One of Nike’s greatest strengths is how we mix style and innovation," Parker said. "The Air Max React 270 is a perfect example. We’ve created a run-away hit by blending Air Max and React with multiple, bold colorways. In fact, the 270 Air Max React led to the largest gains in footwear revenue for the quarter."