Nike rose over 5% in morning trading after reporting better-than-expected revenue.
Nike said fiscal third quarter 2022 revenue increased 5% year-over-year to $10.9 billion, which beat the $10.62 billion estimate. The company reported quarterly earnings of 87 cents per share, which beat the estimate of 71 cents per share.
"NIKE’s strong results this quarter show that our Consumer Direct Acceleration strategy is working, as we invest to achieve our growth opportunities," said John Donahoe, president and CEO of Nike.
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