Wall Street expected Nike to report lower fourth-quarter earnings and revenue, but the company has beaten expectations, CNBC reported.
Nike topped them with a hat-trick, even as sales in China falter.
Its revenue was $10.97 billion versus $10.86 billion expected by analysts.
Nike also saw its gross margin increase by 8.9% thanks to an expected tariff refund of about $986 million.
Nike’s revenue in North America climbed 3% to $4.83 billion. Sales in China dropped 12% to $1.30 billion.
