Nike shares hit all-time high as new products drive sales, earnings top expectations

Earnings

An employee works next to shoes on display inside the flagship store of sporting-goods giant Nike in Shanghai on March 16, 2017.

Johannes Eisele | AFP | Getty Images

Nike on Tuesday reported quarterly earnings and sales that topped analysts’ expectations, as investments it’s made to sell more directly to customers showed signs of paying off.

Its shares rose more than 5% in after-hours trading on the news.

Here’s how the company did compared with what analysts were expecting, based on a poll by Refinitiv:

  • Earnings per share: 86 cents vs. 70 cents expected
  • Revenue: $10.66 billion vs. $10.44 billion expected

Nike shares, as of Tuesday’s market close, have climbed more than 17% this year. The stock had closed the day down about 0.6%.

This is a developing story. Please check back for updates.

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