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Nike fiscal Q3 profit climbs 18.9% YOY

Nike Inc. said its normalized net income for the fiscal third quarter ended Feb. 28 came to 37 cents per share, compared with the S&P Capital IQ consensus estimate of 42 cents per share.

EPS increased 21.7% year over year from 30 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $653.8 million, a gain of 18.9% from $550.0 million in the prior-year period.

The normalized profit margin climbed to 8.8% from 7.9% in the year-earlier period.

Total revenue rose 7.0% on an annual basis to $7.46 billion from $6.97 billion, and total operating expenses climbed 6.2% from the prior-year period to $6.41 billion from $6.04 billion.

Reported net income increased 15.9% from the prior-year period to $786.6 million, or 45 cents per share, from $678.6 million, or 38 cents per share.