Nike stock fell after delivering better-than-expected quarterly results due to issues in China and a weak outlook. Revenue increased to $12.4 billion, beating expectations, but earnings per share fell to 53 cents. Sales in North America improved, while China saw a significant setback with a 17% decline in sales. Nike is working on a turnaround strategy to address challenges in China and maintain growth in North America.

Read more at CNBC: Nike’s turnaround is delayed but not derailed. We think it’s worth the wait