NEW YORK (TheStreet) -- Nike (NKE) shares are up 2.83% to $108.20 in after-hours trading on Thursday following the release of the shoe and apparel manufacturer's fourth quarter earnings results after the closing bell today.
The Beaverton, OR-based company reported fourth quarter earnings of 98 cents per share on revenue of $7.78 billion.
Analysts on average were expecting the company to report earnings of 83 cents per share on revenue of $7.69 billion, according to Thomson Reuters.
For the fiscal year the company reported a 10% increase in revenues to $30.6 billion.
"Fiscal 2015 was an outstanding year for NIKE. Our consistent growth is fueled by our connection to the consumer and our ability to deliver innovation at an unprecedented pace and scale. At no time in our history has the growth potential been greater for NIKE," said CEO Mark Parker.
Insight from TheStreet research team
Real Money Pro's Brian Sozzi recently wrote about Nike's prospects leading up to today's earnings report, here is what he had to say.
Nike has risen a cool 4.3% in the past five days, nicely outperforming the major indices right into its earnings report later this week. I think it's a sucker's rally. Nike is having some performance problems in its core running business, something brought to light in the prior period's earnings call. The market chose to ignore that bit of news, however, raising the risk for disappointment this time around. Under Armour has some strong new running shoes in the market. And Under Armour's Curry One basketball sneakers continue to be hot sellers (as in they are out of stock), which could be causing a little bit of share loss for Nike in its Jordan brand, believe it or not. China concerns me on Nike as well, at least near-term.