Nike Profit Leaps Past Estimates

Nike NKE hurtled past analysts' profit targets in its fiscal third quarter, reporting a 32% jump in earnings amid strength internationally.

The Beaverton, Ore., athletic-wear giant earned $463.8 million, or 92 cents a share, for the third quarter, up from $350.8 million, or 68 cents a share, a year earlier.

Analysts polled by Thomson Financial projected earnings of 81 cents a share for the quarter ended Feb. 29.

Nike's sales rose to $4.54 billion from $3.93 billion, beating analysts' average estimate of $4.35 billion.

As a whole, sales internationally exceeded those in the U.S., with the help of favorable exchange rates. In the U.S., revenue increased 5% to $1.56 billion.

Sales in the European region surged 23% to $1.38 billion, with 13 percentage points coming from changes in currency rates. Asia-Pacific revenue grew 27% to $748.3 million, with 7 percentage points coming from currency; Americas revenue increased 20% to $254.4 million, with 10 points of currency contribution.

Nike's worldwide futures orders -- a closely watched measure of orders for delivery through July -- rose 11% to $6.9 billion.

Trading in Nike's shares was halted in the after-hours session.