NewsBreak – Nike Shares Jump on Big First Quarter Results By Investing.com


© Reuters.

Investing.com – In a market in need of some good news, Nike Inc. (NYSE:) delivered. The athletic footware, equipment and apparel giant reported fiscal-first quarter that beat analyst estimates and the stock jumped 5% after hours.

Earnings in the quarter hit 86 cents a share, compared with an estimate of 70 cents from analysts polled by Investing.com. Earnings were up 28% from a year ago.

Revenue was up 7.1% from a year ago to $10.66 billion, ahead of the analyst estimate of $10.43 billion.

In spite of all the trade tensions. Greater China revenue jumped 22% year over year.

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