Nike quarterly revenue beats estimates

(Reuters) – Nike Inc (N:) on Thursday reported quarterly revenue that beat Wall Street expectations, as the world’s largest footwear maker benefited from its push to sell merchandise through its app and stores.

Net income rose to $1.12 billion, or 70 cents per share, in the second quarter ended Nov. 30, from $847 million, or 52 cents per share, a year earlier.

The company’s revenue rose 10.2% to $10.33 billion. Analysts on average had expected $10.09 billion, according to IBES data from Refinitiv.

However, revenue from North America, its biggest market, increased 5.3% to $3.98 billion, slightly lower than the average analyst estimate of $4 billion.

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