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Nike Inc. late Thursday reported big jumps in its quarterly profit and sales, but the stock faltered in the extended session following a string of records this week.
Nike NKE, +0.58% shares fell 2% in after-hours trading, although losses moderated later on. The shares are up 11 of the past 12 trading days, and hit a record close of $101.15 on Thursday’s regular session.
The footwear and apparel maker said it earned $1.1 billion, or 70 cents a share, in the fiscal second quarter, compared with $847 million, or 52 cents a share, in the year-ago period. That was an increase of 32% year-on-year.
Revenue rose 10% to $10.3 billion, with Nike saying it saw “strong growth across all geographies.”
Analysts polled by FactSet had expected Nike to report a profit of 58 cents a share on sales of $10.1 billion. Nike has beaten the FactSet EPS guidance every quarter but one over the past five years, and beaten the revenue forecast in the past eight consecutive quarters.
The shares’ winning streak are the longest in two years. They have gained 36% this year, compared with advances of 28% and 22% for the S&P 500 index SPX, +0.45% and the Dow Jones Industrial Average DJIA, +0.49% in the same period.
