June 28, 2018 / 8:26 PM / 24 days ago

Nike beats revenue estimates on new launches

June 28 (Reuters) - Nike Inc’s quarterly revenue topped Wall Street estimates on Thursday as a flurry of high-profile launches attracted more buyers and helped North America return to growth.

Total revenue rose 12.8 percent to $9.79 billion, beating analysts’ average estimate of $9.41 billion, according to Thomson Reuters I/B/E/S.

Net income rose to $1.14 billion, or 69 cents per share, in the fourth quarter ended May 31, from $1.01 billion, or 60 cents per share, a year earlier.

The company said it had authorized a new four-year $15 billion program to repurchase shares of Class B Common stock. (Reporting by Nivedita Balu and Uday Sampath in Bengaluru; Editing by Sriraj Kalluvila)

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