Nike Inc. posted double-digit revenue gains in its second fiscal quarter of 2019 that pushed diluted EPS and net income above analysts' estimates.
The sportswear company reported diluted EPS of 52 cents for the three months ended Nov. 30, a 13% increase from the same quarter a year ago that beat the S&P Global Market Intelligence mean consensus estimate for GAAP EPS of 46 cents.
Net income rose 10% year over year to $847 million, driven by strong revenue growth and gross margin expansion, Nike said. The mean consensus analyst estimate for GAAP net income was $734.3 million, according to S&P Global Market Intelligence.
Revenue came in at $9.37 billion, a 10% increase from $8.55 billion in the same quarter a year earlier. Revenue grew across all geographies, the company said. Revenue grew 14% on a currency-neutral basis.
Nike repurchased 16.1 million shares for about $1.3 billion during the quarter as part of a $12 billion, four-year program approved by Nike's board of directors in November 2015. The company repurchased a total of 183.3 million shares through the program as of Nov. 30 and the board authorized in June a new $15 billion share repurchase program that begins after the current program ends, Nike said.
Nike shares rose 7.8% in after-hours trading Dec. 20 to $72.80 per share. The company reported earnings after markets closed.