Nike beats estimates for revenue on resilient sportswear demand

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Shares of the company rose marginally in extended trading.

Nike (NYSE:NKE) reported a 30% jump in its largest market, North America, helping offset a sales slump in China after COVID-related restrictions in the country impacted sales in the region.

The world’s largest sportswear maker said revenue rose to $13.32 billion for the second quarter from $11.36 billion a year earlier. Analysts had expected $12.57 billion, according to IBES data from Refinitiv.