Nike's 4Q profit jumps 14 percent

June 27, 2011 - 4:45 PM

BEAVERTON, Ore. (AP) — Nike Inc. says its fourth-quarter net profit rose 14 percent to beat expectations as the company's sales improved around the globe.

The world's largest athletic shoe company reported Monday that despite higher costs, it earned $594 million, or $1.24 per share, for the quarter. That's up from the $522 million, or $1.06 per share, it earned in the same quarter last year.

Nike's total revenue rose 14 percent to $5.77 billion

The results handily beat the $1.16 per share on revenue of $5.53 that analysts were anticipating.