Nike net income fallsComment on this story
Nike says its second-quarter net income fell 18 percent as the European economy remained weak and growth slowed in China.
But the results topped Wall Street expectations and Nike's stock rose more than 4 percent in aftermarket trading.
The world's largest athletic gear maker says net income for the three months ended November 30 fell to $384 million, or $1.14 per share. That compares with $469 million, or $1.03 per share, last year when it had about 3 percent more shares outstanding.
Revenue rose 7 percent to $5.96 billion.
Analysts expected $1 per share on revenue of $6.01 billion.
Higher selling prices and easing raw material costs were offset by higher labor costs and fluctuations in foreign currency exchange rates. Futures orders rose 6 percent. - Sapa-AP