said sales and earnings rose in its first quarter thanks to solid overseas results.
Beaverton, Ore.-based Nike said it earned $217.2 million, or 81 cents a share, before an accounting change in the quarter ended Aug. 31, up from $204.2 million, or 75 cents a share, a year ago.
Analysts polled by First Call had been predicting earnings of 80 cents a share. Revenue rose to $2.80 billion from $2.61 billion last year.
While sales in the U.S. rose 2% in the latest quarter from a year ago, they rose 15% in Europe and 24% in the Asia Pacific region. The company's overall gross margins also rose to 41.4% from 39.4% last year.
Nike's shares closed at $41.70 Tuesday.