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Nike reports 7 percent rise in quarterly revenue

Nike reports 7 percent rise in quarterly revenue
FILE PHOTO: The Nike swoosh logo is seen outside the store on 5th Ave in New York, New York, U.S., March 19, 2019. REUTERS/Carlo Allegri   -   Copyright  CARLO ALLEGRI(Reuters)
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(Reuters) – Nike Inc reported a 7 percent rise in quarterly revenue on Thursday, boosted by strong sales on its app and website.

Total revenue rose to $9.61 billion (7.4 billion pounds) from $8.98 billion, in line with analysts’ average estimate, according to IBES data from Refinitiv.

The maker of Jordan sneakers reported a net income of $1.1 billion, or 68 cents per share, for the third quarter ended Feb. 28, compared with a net loss of $921 million, or 57 cents per share, a year earlier, when the company incurred a $2 billion charge related to U.S. tax reform.

(Reporting by Uday Sampath in Bengaluru; Editing by Sriraj Kalluvila)

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