BEAVERTON — Nike Inc. (NKE) on Tuesday reported fiscal first-quarter profit of $1.37 billion.
On a per-share basis, the Beaverton, Oregon-based company said it had net income of 86 cents.
The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.
The athletic apparel maker posted revenue of $10.66 billion in the period, which also topped Street forecasts. Nine analysts surveyed by Zacks expected $10.45 billion.
Nike shares have risen 18 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 18 percent. In the final minutes of trading on Tuesday, shares hit $87.18, an increase of 3.5 percent in the last 12 months.
