Nike: Fiscal 1Q Earnings Snapshot
BEAVERTON, Ore. (AP) _ Nike Inc. (NKE) on Tuesday reported fiscal first-quarter net income of $1.09 billion.
The Beaverton, Oregon-based company said it had profit of 67 cents per share.
The results topped Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.
The athletic apparel maker posted revenue of $9.95 billion in the period, which also topped Street forecasts. Ten analysts surveyed by Zacks expected $9.88 billion.
Nike shares have climbed 36 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 9 percent. In the final minutes of trading on Tuesday, shares hit $84.79, a rise of 59 percent in the last 12 months.