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Nike Earnings Beat Forecasts
Wednesday, December 21, 10:46 AM ET

Nike (NYSE:NKE) reported a modest gain in fiscal second-quarter earnings late yesterday.

Profits rose to $469 million, or $1 per share, from $457 million, or $0.94 per share, in last year's second quarter.

The world's largest athletic apparel maker said revenue rose 18%, to $5.7 million.

Results were just ahead of analyst expectations.

Nike competes with smaller athletic apparel manufacturers like Under Armour (NYSE:UA), lululemon (NASDAQ:LULU), and Columbia Sportswear (NASDAQ:COLM).

Nike said that as of the end of the quarter, worldwide future orders for footwear and apparel scheduled for delivery through April 2012 totaled $8.9 billion, 13% higher than the level at the same time last year.

Shares are trading higher in Wednesday's premarket action.

For MarketNewsVideo.com, I'm Sayoko Murase.

Nike Earnings Beat Forecasts picture
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