Nike 4th quarter net income tops estimates

Nike 4th quarter net income tops estimates

Credit: ASSOCIATED PRESS

FILE - In this June 27, 2011 file photo, the Nike Air Jordan logo is shown in front of the Niketown store in downtown Portland, Ore. (AP Photo/Rick Bowmer, File)

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Associated Press

Posted on June 26, 2014 at 2:02 PM

Updated Thursday, Jun 26 at 4:03 PM

NEW YORK (AP) — Nike's fourth-quarter net income rose 5 percent as higher revenue offset heavy investments in marketing for the World Cup soccer tournament.

Results topped expectations. Shares rose 2.7 percent in aftermarket trading.

The athletic gear maker says net income for the three months ended May 31 rose to $698 million, or 78 cents per share. That compares with net income of $662 million, or 76 cents per share, in the same quarter last year. Analysts expected net income of 75 cents per share.

Revenue rose 11 percent, to $7.43 billion from $6.7 billion. Analysts expected revenue of $7.34 billion. Revenue for the Nike brand rose 13 percent to $7 billion.

Beaverton, Oregon-based Nike says orders for deliveries scheduled from June through November rose 11 percent compared with a year ago.

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