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​Nike earnings easily outrun expectations

NEW YORK - Shares of Nike (NKE) jumped in premarket trading Friday after the company reported a 23 percent boost in fiscal first-quarter profit, topping Wall Street expectations.

The stock rose $9.81, or 8.5 percent, to $124.65 at 8 a.m. ET.

The Beaverton, Oregon-based footwear and sportswear company had profit of just under $1.18 billion, or $1.34 per share. Analysts polled by FactSet expected $1.19 per share in profit.

Revenue jumped 5 percent to $8.41 billion on strong sales worldwide, topping expectations for just under $8.22 billion. A stronger U.S. dollar severely hampered the results, and revenue would have jumped 14 percent, excluding that impact.

Sales in North America rose 9 percent to $3.8 billion, with footwear contributing to the bulk of sales. Sales rose 14 percent to $1.64 billion in Western Europe and 26 percent to $401 million in Central and Eastern Europe.

The most significant growth came from China and Japan. Sales rose 30 percent to $886 million in China and 35 percent to $179 million in Japan.

Another $966 million in sales came from emerging markets.

Worldwide futures orders for athletic footwear and apparel scheduled for delivery from September 2015 through January 2016 were 9 percent higher than a year prior.