NEW YORK (Reuters) – Nike Inc reported better-than-expected fourth-quarter earnings on Monday as revenue rose 14 percent and futures orders gained 12 percent, excluding currency fluctuations.
Nike shares gained 3.6 percent to $84.58 in after-hours trading.
The sports gear maker's net income in the fiscal fourth quarter which ended May 31, rose 14 percent to $594 million, or $1.24 a share. Net income for the year ago period was $522 million, or $1.06 a share.
Nike was expected to earn $1.16 a share, according to the average estimate of analysts surveyed by Thomson Reuters.
Revenue for the quarter rose to $5.8 billion from $5.08 billion. Revenue climbed 11 percent excluding currency movements.
Nike was expected to generate $5.528 billion in revenue in the period, according to a Thomson Reuters analyst poll.
Futures orders, excluding currency exchange rates -- a closely watched measure of sales growth -- came in ahead of Wall Street estimates. Orders for June through November jumped 15 percent to $10.3 billion. Excluding currency effects, orders rose 12 percent, Nike said.
Barclays Capital analyst Robert Drbul expected futures orders to be up 8 percent to 10 percent in constant dollars. Matt Arnold, an analyst at Edward Jones, was expecting future orders to be up at least 8 percent.
(Reporting by Alistair Barr and Phil Wahba. Editing by Robert MacMillan and Carol Bishopric)
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