The athletic shoe and apparel retailer reported profit of $0.57 per share, exceeding analyst estimates of $0.48. Nike also reported quarterly revenue of $9.07 billion that was roughly in line with the consensus forecast of $9.09 billion.
“This quarter, we captured near-term opportunities through our new Consumer Direct Offense,” Nike chairman, president and CEO Mark Parker said in a statement. “Looking ahead to the rest of fiscal 2018, we will ignite Nike's next horizon of global growth through the strength of our brand, the power of our innovative products and the most personal, digitally-connected experiences in our industry.”
The strength seen in Nike's stock is welcome news for shareholders that have absorbed a plunge of almost 11% since the company's stock hit a more than 11-month high in early August.