Nike Profit Up 51%
Los Angeles, Nike Inc. posted on Thursday a 51% rise in quarterly net profit, helped by a tax benefit and a weak-dollar boost to revenue.
Net income in the latest quarter rose to $569.7 million from $377.2 million a year earlier. Revenue rose 11% to $4.7 billion.
Revenue also topped analysts' target of $4.6 billion and rose internationally, with growth of 2% in the United States, 16% in Europe, 22% in the Asia Pacific region and 15% in the non-U.S. Americas.