Share in sportswear maker NIKE inc (NYSE:NKE) kicked on in after-hours trading as fiscal fourth quarter earnings topped expectations.
Net income of US$1.01bn in the three months to the end of was up from US$846mln in the corresponding period of 2016, and was equivalent to 60 cents, up 22% year-on-year. The consensus forecast for earnings per share was 49 cents.
Fourth quarter revenues rose 5%, slightly ahead of expectations of a 4.5% increase, to US$8.7bn.
“NIKE continues to create both near-term wins in today’s dynamic environment and a lasting foundation for future growth,” said Mark Parker, who as chairman, president and chief executive officer clearly does not believe in job-sharing.
“Through our Consumer Direct Offense, we’re putting even more fire-power behind our greatest opportunities in fiscal 2018. It will be a big year for NIKE innovation and we’ll bring those stories to life through deeper consumer connections in our key cities around the world,” Parker burbled.
Despite the vapid corporate-speak, the market was impressed and the shares rose 2.7% to US$54.60 in screen-based trading.