Nike (NYSE:NKE) shares rose 6% after-hours following the companys reported Q3 results, with EPS of $0.87 coming in better than the consensus estimate of $0.71.
Revenue grew 5% year-over-year (or 8% on currency-neutral basis) to $10.9 billion, beating the consensus estimate of $10.59 billion. This was led by NIKE Direct growth of 17% year-over-year. NIKE Brand Digital business fueled growth, rising 22% on a currency-neutral basis, led by 33% growth in North America.
President and CEO John Donahoe said the strong results showed that the company's Consumer Direct Acceleration strategy is working.
The company returned $1.7 billion to shareholders in the quarter - $1.2 billion from share repurchases and $484 million from dividends.
By Davit Kirakosyan