Nike Shares Climb After Fourth-quarter Earnings Beat

Shares of Nike Inc. were climbing 3% after the market closed Thursday after the company beat fourth-quarter earnings expectations. Nike reported net income of $1.01 billion, or 60 cents per share, up from $846 million, or 49 cents per share, in the year-earlier period. The FactSet consensus was for earnings per share of 50 cents. Nike reported revenue of $8.7 billion, up from $8.2 billion in the year-earlier period and above the FactSet consensus of $8.6 billion. Shares of Nike have fallen 6% in the past three months, while the S&P 500 has gained 2.5%.