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Nike posts higher-than-expected quarterly revenue
June 29, 2017 / 8:25 PM / 5 months ago

Nike posts higher-than-expected quarterly revenue

June 29 (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.

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)

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