Nike Beats Earnings Estimates (NKE)

Nike (NYSE: NKE) has just released their quarterly earnings numbers, beating Wall Street estimates. The Beaverton, Oregon based footwear company reported third quarter net income of $496 million, or $1.01 per share, compared to $244 million or $0.50 per share in last year's corresponding quarter. These EPS numbers topped analysts' consensus estimates of $0.89 per share.

Revenues came in at $4.7 billion compared to $4.4 billion in last year's third quarter. In the after hours trading session, NKE shares have surged 3.33% to $73.23.

“We had a great quarter,” said Mark Parker, NIKE, Inc. President and Chief Executive Officer. “Today’s results reinforce our belief that when we connect with consumers in deep and meaningful ways from product concepts to how they experience our brands, we win in the marketplace and drive sustainable, profitable growth.”