Nike has reported its financial results for the third quarter of the 2024 fiscal year, when revenues were up marginally on both a reported and currency-neutral basis to US$12.4 billion.

The revenue result for North America was US$5.07 billion, up by 3% year-on-year, while EMEA saw a decline of 3% to US$3.14 billion. Greater China was up 5% to US$20.8 billion and Asia Pacific & Latin America grew by 3% to US$1.65 billion.

Nike Direct revenues were slightly up at US$5.4 billion, while wholesale revenues grew by 3% to US$6.6 billion.

The Nike brand had an increase of 2% year-on-year in the quarter to US$11.9 billion, with growth in North America, Greater China and APLA offset by declines in EMEA. Meanwhile, Converse declined by 19% on a reported basis to US$495 million, driven by North America and Europe.

The company ended the quarter with a net income of US$1.2 billion, falling by 5% on the same quarter of fiscal 2023.

Nike President and CEO John Donahue said: “We are making the necessary adjustments to drive Nike’s next chapter of growth. We’re encouraged by the progress we’ve seen, as we build a multiyear cycle of new innovation, sharpen our brand storytelling and work with our wholesale partners to elevate and grow the marketplace.”