Nike Modestly Higher After Q3 Results

Nike NKE released its fiscal Q3 earnings results after the closing bell on Thursday. The company reported net income of $560 million or $1.20 per share, versus $523 million or $1.08 per share, in the year ago period. This came in ahead of analysts' consensus EPS estimates of $1.17 per share. Revenues for the quarter were $5.846 billion versus $5.079 billion in last year's corresponding quarter. This also exceeded analysts' consensus revenue estimates of $5.82 billion. Nike also announced that it intends to buy back 2.5 million shares at a cost of $239 million in the third quarter. In Thursday's after hours trading session, NKE shares have added a little less than 1% to $112.00.