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Nike fiscal Q2 profit climbs 23.0% YOY

Nike Inc. said its normalized net income for the fiscal second quarter ended Nov. 30, 2014, was 31 cents per share, compared with the S&P Capital IQ consensus estimate of 35 cents per share.

EPS climbed 26.6% year over year from 25 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $548.8 million, an increase of 23.0% from $446.3 million in the year-earlier period.

The normalized profit margin rose to 7.4% from 6.9% in the year-earlier period.

Total revenue increased 14.8% on an annual basis to $7.38 billion from $6.43 billion, and total operating expenses grew 14.0% from the prior-year period to $6.49 billion from $5.70 billion.

Reported net income grew 21.9% year over year to $654.8 million, or 37 cents per share, from $537.3 million, or 30 cents per share.