NEW YORK (TheStreet) -- Nike NKE was gaining 1.9% to $80.75 in after-hours trading Thursday after beating analysts expectations for earnings and revenue in the fiscal third quarter.
In its fiscal third quarter the shoemaker posted earnings of 76 cents a share, beating analysts' estimates of 72 cents a share by 4 cents. Revenue increased 12.6% from the year-ago quarter to $6.97 billion. Analysts surveyed by Thomson Reuters expected revenue of $6.69 billion for the quarter.
Revenue for the Nike brand of shoes was $6.6 billion for the quarter, up 14% from the year-ago quarter. Revenue from the Converse brand was $420 million, which is up 16% from the year-ago period. Nike sales saw growth in all geographic regions and key categories, while Converse sales were driven by growth in the U.S., U.K., and China.
"Our strong Q3 results demonstrate our relentless focus on delivering innovations that resonate with consumers," Nike CEO and president Mark Parker said in a press release. "Despite macroeconomic challenges, NIKE delivers consistent results because we focus on the biggest opportunities for growth while we manage risk across our diverse global portfolio. This is how we continue to drive long-term value for our shareholders."
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TheStreet Ratings team rates NIKE INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation: