BEAVERTON, Ore. — Nike Inc. on Thursday reported fiscal third-quarter net income of $1.1 billion, after reporting a loss in the same period a year earlier.
The Beaverton, Ore.-based company said it had profit of 68 cents per share. The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.
The athletic apparel maker posted revenue of $9.61 billion in the period, also surpassing Street forecasts. Nine analysts surveyed by Zacks expected $9.54 billion.
Nike shares have risen 19 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 14 percent. In the final minutes of trading on Thursday, shares hit $88.01, a climb of 33 percent in the last 12 months.
