Sportswear firm Nike Inc (NYSE:NKE) topped expectations with its quarterly update released after the bell last night.
Buoyed by a strong performance in Asia, global revenue rose 6.4% to US$8.18bn from US$7.69bn the year before, despite currency head-winds in the second quarter of its fiscal year.
On a constant exchange rates (CER) basis, revenue would have been up 8% year-on-year.
Back in September, the company had guided the market to expect a mid-single digit percentage revenue increase.
Revenue in Greater China was up 12% (+17% on a CER basis) while in Japan it rose 16% (-2% on a CER basis).
Its home market remains its biggest, however, and though top-line growth in North America was a more pedestrian 2.9% to US$3.65bn, that’s not so bad in a mature market.
Net income climbed 7.3% to US$842mln from US$785mln the previous year, and earnings per share rose 11.1% to 50 cents from 45 cents previously.
The latter was boosted by the company’s share repurchase program.
“With industry-defining innovation platforms, highly anticipated signature basketball styles and more personalized retail experiences on the horizon, we are well positioned to carry our momentum into the back half of the fiscal year and beyond,” suggested Mark Parker, Nike’s chief executive officer.
Shares opened a smidgen higher at US$51.86, up seven cents on last night’s close.