Nike's Q4 Earnings Beat Boosted By Sportswear, Running Segments

Nike Inc NKE released its fourth-quarter earnings after the close on Thursday.

• Q4 EPS of $0.60, beating estimates by $0.10
• Sales came in at $8.7 billion, beating estimates by $70 million
• Inventories up 4 percent as of May 31
• Q4 revenues were up 5 percent, net income increased 19 percent
• Repurchased 14.9 million shares in Q4

Nike saw double digit growth in Western Europe, Greater China and in Emerging markets, led by sportswear and running categories. Converse also had a strong quarter with sales up 10 percent on a currency-neutral basis.

“NIKE continues to create both near-term wins in today’s dynamic environment and a lasting foundation for future growth,” said Mark Parker, Chairman, President and CEO. “Through our Consumer Direct Offense, we’re putting even more firepower behind our greatest opportunities in Fiscal 2018. It will be a big year for NIKE innovation and we’ll bring those stories to life through deeper consumer connections in our key cities around the world.”

Nike's stock was up more than 3 percent to $54.96 in after-hours trading.