Nike’s earnings outperformed expectations

US-based Nike posted higher-than-expected revenue in its fiscal quarter ended in February, following stronger demand in North America and Europe and a surge in internet sales to offset the decline in Chinese sales.

The world’s number one sneaker and sportswear maker reported in its flash report after Tuesday’s closing that its revenue for- the third quarter ended on 29 February, which is a year-on-year increase of 5 percent to 10.14 billion USD. Analysts expected a lower value of 9.80 billion USD.

The Oregon-based company’s after-tax profit fell 23 percent to 847 million USD. (MTI)