Why Nike (NKE) Stock Is Rebounding in After-Hours Trading Today

NEW YORK (TheStreet) -- Shares of Nike Inc  (NKE) are surging 5.52% to $84.15 in after-hours trading as the global footwear and athletic apparel company reported first quarter earnings of $1.09 per share, higher than the 86 cents per share from the same quarter of last year, and beating analysts' estimate of 88 cents per share.

The company reported a rise in revenue to $7.98 billion from the $6.97 billion one year ago, and higher than the consensus estimate of $7.83 billion for the quarter.

Worldwide futures orders for Nike brand athletic shoes and apparel for delivery from Sept. 2014 through January 2015 were up 11% in the first quarter from the same period last year, better than the 10% gain analysts had expected.

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NKE Chart NKE data by YCharts

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