NIKE Trades Higher on Q3 Beat

Shares of NIKE

are trading higher in the after-hours following the release of the company's Q3 earnings results. Currently, shares are higher by 0.96%, trading at $112.05; they ended the regular session higher by 0.50%, at $110.99. NIKE reported Q3 EPS of $1.20 on revenues of $5.85 billion; the Street was looking for $1.17 per share on revenues of $5.82 billion. Revenues increased 15.1% year over year. “We had a strong third quarter. Our relentless focus on innovation delivered powerful new products and services for athletes and consumers, and continues to drive value to our shareholders,” said Mark Parker, President and CEO, NIKE, Inc. “The environment remains volatile, but I'm optimistic about the future. We're starting a great season of major sports events and we have a pipeline full of innovation to fuel growth over the long term." As of the end of the quarter worldwide futures orders for NIKE Brand athletic footwear and apparel, scheduled for delivery from March through July 2012, totaled $9.4 billion, 15 percent higher than orders reported for the same period last year. NIKE, Inc., is engaged in design, development and marketing of footwear, apparel, equipment and accessory products. NIKE is a seller of athletic footwear and athletic apparel in the world.