Nike income jumps
Nike CEO Mark Parker / Jonathan Ferrey/Getty Images/Nike
BEAVERTON, Ore. Nike (NKE) says third-quarter net income rose 55 percent as the athletic gear maker's resurgence in North America helped offset continued weakness in Europe and China.
Results beat expectations and shares jumped 6.5 percent in aftermarket trading.
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Results were boosted by demand for its Nike brand in all regions except China and Japan. Revenue in North America, which accounts for 40 percent of revenue, rose 18 percent.
The world's largest athletic shoe and clothing company says its net income for the three months ended Feb. 28 rose to $866 million, or 73 cents per share. That compares with $560 million, or 61 cents per share last year. Analysts expected 67 cents per share.
Revenue rose 9 percent to $6.19 billion, nearly matching analysts' expectations of revenue of $6.2 billion.
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