Nike Surges After Q3 Results

Global apparel retailer Nike

released its fiscal third-quarter earnings results on Thursday after the closing bell. In late trading, the stock was up better than 8 percent to $58.10 after Nike beat earnings projections. Revenues just missed expectations. The company reported net income from continuing operations of $662 million or $0.73 per share, versus $569 million or $0.61 per share, in last year's corresponding quarter. This easily beat Wall Street analysts' consensus earnings per share estimates of $0.67. Total sales for the quarter were up 9 percent to $6.19 billion from $5.66 billion in the year ago period. This missed Wall Street consensus revenue estimates of $6.23 billion.