Nike posts higher-than-expected quarterly revenue

Retail Reuters

(Reuters)

Nike Inc, the world's No. 1 footwear maker, reported quarterly revenue that beat analysts' estimates, helped by higher demand in Western Europe, China and emerging markets.

Continue Reading Below

Shares of the Dow component were up 3.2 percent at $54.87 in after-market trading on Thursday.

Nike's net income rose to $1 billion, or 60 cents per share, in the fourth quarter ended May 31, from $846 million, or 49 cents per share, a year earlier.

Revenue rose 5.3 percent to $8.68 billion.

Analysts on average had expected revenue of $8.63 billion, according to Thomson Reuters I/B/E/S. (Reporting by Gayathree Ganesan in Bengaluru; Editing by Martina D'Couto)

What do you think?

Click the button below to comment on this article.