Nike

(NKE) - Get Report

shares were sharply higher early Friday after the athletic shoe company reported a record second-quarter profit late Thursday.

The Oregon-based company posted net income of $261.9 million, or 97 cents a share, compared with $179.1 million, or 66 cents a share. Revenue rose 11% to $3.1 billion. The consensus estimate was 87 cents a share, according to Thomson First Call.

Nike said emerging markets such as China, Russia and Turkey, combined with favorable European exchange rates, helped drive much of the growth.

The company said futures orders totaled $4.9 billion, 9.1% higher than a year ago.

Shares rose $4.85, or 5.6%, to $90.70, a new 52-week high, in premarket trading.