NEW YORK (TheStreet) -- Nike (NKE) rose in after-hours trading on Thursday after the apparel and footwear maker reported fourth-quarter results that surpassed analysts' expectations thanks to strong sales in North America and Western Europe.
The company's net income from continuing operations increased to $698 million, or 78 cents a share, in the quarter ended May 31, up from $690 million, or 76 cents a share, in the same period one year earlier.
Revenue from continuing operations increased 13% to $7.43 billion.
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Analysts polled by Thomson Reuters had expected Nike to report earnings of 75 cents a share on $7.34 billion in revenue.
The stock was up 2.52% to $78.80 at 4:44 p.m.
Separately, TheStreet Ratings team rates NIKE INC as a "buy" with a ratings score of A. TheStreet Ratings Team has this to say about their recommendation:
"We rate NIKE INC (NKE) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows: