Nike Inc. rallied in late trading after the world’s largest sportswear maker returned to profit and posted far better revenue than predicted, a sign it’s swiftly bouncing back from the pandemic slump.
Revenue amounted to $10.6 billion in its fiscal first quarter, Nike said on Tuesday, compared with the $9.11 billion estimate of analysts. The company posted 95 cents a share in earnings, topping the 46-cent projection.