March 20 Nike Inc on Thursday reported a higher quarterly profit from continuing operations as high margin products made up a bigger proportion of sales, and said global orders for merchandise for delivery by July rose 14 percent.
The maker of sports gear earned $685 million, or 76 cents a share, in its fiscal third quarter ended Feb. 28, compared to $866 million, or 73 cents per share a year earlier. Excluding discontinued operations, Nike had a profit of 76 cents per share for the quarter.
Total revenue rose 12.7 percent to $6.97 billion, above the $6.69 billion analysts were expecting, according to Thomson Reuters I/B/E/S. (Reporting by Phil Wahba in New York; Editing by Chizu Nomiyama)