Nike Inc.) reported fiscal first quarter 2015 earnings after markets closed Thursday. The athletic gear company reported diluted earnings per share (EPS) of $1.09 on revenue of $8 billion. In the same period a year ago, the company reported EPS of $0.86 on revenue of $6.97 billion. First-quarter results compare to the Thomson Reuters consensus estimates for EPS of $0.88 and $7.83 billion in revenue.

Nike did not offer guidance in its press release, but did say that orders for delivery between September 2014 and January 2015 are up 11% over a the same period a year ago. On a constant currency basis orders are up 14%, above the figure analysts expected. The consensus second quarter estimates call for EPS of $0.66 on revenues of $7.07 billion. For the 2015 fiscal year analysts expect EPS of $3.39 on revenues of $30.36 billion.

Gross margins rose to 46.6%, up 1.7% year-over-year for the quarter. Nike attributed the gains to a shift in product mix to higher margin products, higher average prices, and continued sales in its higher margin direct-to-consumer business.

Net income rose 23% year-over-year to $962 million. Nike said that the 27% increase in diluted EPS reflects a 3% decline in the weighted average number of shares outstanding. The company repurchased 10.6 million shares for approximately $819 million in the first fiscal quarter.

The quarter’s expenses were higher due to marketing spending related to the World Cup and operating expenses were higher due to higher costs for expanding the company’s direct-to-consumer business.

Nike’s shares are up about 17% over the past 12 months, although year-to-date the stock has added only about 3.3%.

Shares are getting a solid boost in after-hours trading today, up more than 5% at $84.02, which would be a new 52-week and all-time high if it holds through Friday’s market open. The current 52-week range is $69.15 to $82.79. Thomson Reuters had a consensus analyst price target of around $86.50 before today’s results were announced.

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