BEAVERTON, Ore. — Nike Inc. says strong consumer demand helped boost its second-quarter revenue and profit.
The athletic shoe and clothing company reported Thursday that it earned $655 million, or 74 cents per share, for the period that ended Nov. 30. That’s up 23 percent from the $534 million, or 59 cents per share, earned during the same period last year. Revenue jumped 15 percent to $7.38 billion from $6.43 billion.
Nike’s profit got a boost from the strong sales growth, improved margins and fewer outstanding shares.
The results topped Wall Street expectations. Analysts surveyed by Zacks Investment Research were anticipating earnings of 70 cents per share on revenue of $7.16 billion.