Nike shares are up 8 percent in premarket trading Friday, after the athletic apparel company turned in quarterly earnings and revenue that beat analysts’ expectations with the help of strong global sales and improvements to its digital business.
Although there had been concerns early in the quarter that a controversial ad campaign could dampen sales, there weren’t any signs of that in the results, which were released late Thursday.
Executives also said they weren’t seeing any impact from friction on trade between the U.S. and China. Wedbush analysts recently estimated that the percentage of goods Nike sources from China is in the mid-20s.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: 52 cents vs. 46 cents expected
- Revenue: $9.37 billion vs. $9.18 billion expected
Nike said revenue grew in nearly every category, with footwear and apparel seeing growth in the double digits globally. Digital sales led growth across both the Nike and Converse brands.