NIKE Soaring In Pre-Market On Earnings Beat

NIKE, Inc. NKE shares are jumping this morning, gaining almost 5% after the company reported better than expected earnings last night after the bell. The Beaverton-based footwear maker reported earnings of $1.24 per share on $5.77 billion in revenues. Wall Street analysts were looking for $1.16 in earnings on $5.53 billion in revenues. “In fiscal year 2011, we delivered exceptional results in extraordinary times,” said Mark Parker, NIKE, Inc. President and CEO. “Our business is organized to drive growth across multiple brands, geographies and categories, as we manage through the ever-changing macroeconomic landscape.” Parker added, “We continue to deliver compelling innovation to athletes and consumers, and strong returns for our shareholders. The global appetite for sports has never been stronger.”* Regarding future orders, the company said that future orders were $10.3 billion, up 15% from last year. year. Excluding currency changes, reported orders would have increased 12 percent. The company is holding its investor meeting today to discuss the business, as well as the fourth quarter results from yesterday. At last check, shares of Nike were up $3.68 to $85.30‎, a gain of 4.51%‎ in pre-market.