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Sneaker maker


(NKE) - Get NIKE, Inc. (NKE) Report

said sales and earnings rose in its first quarter thanks to solid overseas results.

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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.