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Nike: Fiscal 1Q Earnings Snapshot

·1 min read

BEAVERTON, Ore. (AP) _ Nike Inc. (NKE) on Tuesday reported fiscal first-quarter profit of $1.52 billion.

On a per-share basis, the Beaverton, Oregon-based company said it had profit of 95 cents.

The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.

The athletic apparel maker posted revenue of $10.59 billion in the period, which also topped Street forecasts. Ten analysts surveyed by Zacks expected $9.17 billion.

Nike shares have risen 15% since the beginning of the year, while the Standard & Poor's 500 index has climbed roughly 3%. In the final minutes of trading on Tuesday, shares hit $116.87, a climb of 33% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NKE at https://www.zacks.com/ap/NKE