NEW YORK (TheStreet) -- Shares of Nike slip on Friday after the company warned that weaker currencies in key emerging markets will weigh on next year's results.

VIDEO TRANSCRIPT:

Shares of Nike (NKE) are falling on Friday, one day after the company reported better-than-expected third-quarter profit and sales.

The company reported total revenue that rose 12.7% to nearly $7 billion during the quarter, beating analysts' expectations for almost $6.7 billion, according to Thomson Reuters.  Excluding discontinued operations, Nike's profit came to 76 cents a share, beating analyst expectations by 4 cents.

With the World Cup soccer tournament approaching this summer, Nike reported a 12% rise in orders to be delivered between March and July, led by Western Europe, which saw a 33% jump.

On a weaker note, future orders in China for the third quarter fell 1%, and going forward Nike warned that weaker currencies in key emerging markets will weigh on next year's reported revenue, gross margin and profit growth.

At last check, shares of Nike were slipping more than 3% to $76.74.

In New York, I'm Brittany Umar for TheStreet.

Written by Brittany Umar in New York.

More from Stocks

Abercrombie & Fitch CEO: We Aren't the Same Abercrombie You Once Knew

Abercrombie & Fitch CEO: We Aren't the Same Abercrombie You Once Knew

Amazon Wants to Use Your Car as a Mobile Warehouse - Here's What That Could Mean

Amazon Wants to Use Your Car as a Mobile Warehouse - Here's What That Could Mean

Chipotle's New CEO Has Set its Path for Redemption

Chipotle's New CEO Has Set its Path for Redemption

TheStreet Is About to Hold the BEST Institutional Investor Conference of 2018

TheStreet Is About to Hold the BEST Institutional Investor Conference of 2018

Twitter's Turnaround Continues but Investors Don't Seem Entirely Convinced

Twitter's Turnaround Continues but Investors Don't Seem Entirely Convinced