Why Nike Shares Are Rising After Hours

NIKE, Inc. NKE shares are trading higher after the company reported its fourth-quarter financial results.

The company reported fourth-quarter earnings per share results of $0.87 which beat the $0.71 estimate and sales results of $10.9 billion which beat the $10.62 billion estimate.

"NIKE's strong results this quarter show that our Consumer Direct Acceleration strategy is working, as we invest to achieve our growth opportunities," said John Donahoe, President and CEO, NIKE.

"Fueled by deep consumer connections, compelling product innovation and an expanding digital advantage, we have the right playbook to navigate volatility and create value through our relentless drive to serve the future of sport," Donahoe added.

NIKE, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories worldwide.

NIKE's stock was trading about 6% higher at $138.01 per share on Monday at the time of publication. The stock has a 52-week high of $179.10 and a 52-week low of $116.75.