Nike, Inc. (NYSE: NKE) released fiscal first quarter financial results after markets closed Tuesday. The apparel giant said that it had $0.86 in earnings per share (EPS) and $10.7 billion in revenue, compared with consensus estimates that called for $0.70 in EPS and $10.44 billion in revenue. The same period from last year had $0.67 in EPS and $9.95 billion in revenue.
In terms of the revenue breakdown, Nike brand revenues increased 10% to $10.1 billion on a currency neutral basis, driven by growth across NIKE Direct and wholesale, key categories including Sportswear and the Jordan Brand, and continued growth across footwear and apparel.
Revenues for the Converse segment were up 8% at $555 million, mainly driven by double-digit growth in Asia and through digital globally, which was partially offset by declines in the U.S.
The company offered no guidance for the fiscal second-quarter. However, the consensus estimates call for $0.70 in EPS and $10.44 billion in revenue.
Mark Parker, board chair, president and CEO, commented:
Our targeted strategic investments are accelerating NIKE’s digital transformation and extending our competitive advantage. Even amidst the increasingly volatile macroeconomic and geopolitical environment, we expect our unrelenting focus on better serving the consumer to continue fueling strong, broad-based growth across our global portfolio.
Shares of Nike closed Tuesday at $87.18, with a 52-week range of $66.53 to $90.00. Following the announcement, the stock was up over 4% at $91.40 in the after-hours session.