BEAVERTON, Ore. ? Nike Inc.'s second-quarter profit rose 3 percent as strong demand and higher prices for its shoes, clothes and gear offset increased costs.
The Beaverton, Ore.-based company reported Tuesday that it earned $469 million, or $1 per share, for the quarter that ended Nov. 30. That's up from $457 million, or 94 cents per share, in the same quarter last year. It also benefited from fewer shares outstanding this quarter.
Nike's total revenue increased 18 percent to $5.73 billion as it sold more of its branded products in nearly every market around the globe.
The world's largest athletic shoe and clothing company beat analyst expectations of 97 cents per share on revenue of $5.63 billion, according to FactSet.
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