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Nike shares rise as earnings top estimates on strong North America demand

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Nike reported earnings and sales that topped analysts' estimates, thanks to robust demand in North America as consumers headed back to stores.

Nike reported net income for the three-month period ended Feb. 28 of $1.4 billion, or 87 cents per share, compared with $1.45 billion, or 90 cents a share, a year earlier. That topped profit estimates for 71 cents a share, according to Refinitiv data.

Sales rose 5% to $10.87 billion from $10.36 billion a year earlier, beating analysts' expectations for $10.59 billion. Nike said sales in its biggest market, North America, climbed 9%. Sales in Greater China, the company's third-biggest market behind its Europe, Middle East and Africa segment, fell 5% from the prior year.Find the full earnings press release from Nike

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Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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