Nike Fiscal 2nd-Quarter Profit Up 40 Percent

Nike Fiscal 2nd-Quarter Profit Up 40 Percent

BEAVERTON, Ore. (AP) - Nike says its fiscal second-quarter net income jumped 40 percent, helped by higher average selling prices and an increase in revenue around the world. Profit topped analysts' expectations, though revenue came in slightly short.

The world's largest athletic goods maker says net income for the three months that ended on Nov. 30 rose to $537 million, or 59 cents per share. That compares with net income of $384 million, or 57 cents per share, last year. The company, based in Beaverton, Ore., says revenue rose 8 percent to $6.43 billion from $5.96 billion. Analysts expected earnings of 58 cents per share on revenue of $6.44 billion. Shares slipped 11 cents to $78.15 in aftermarket trading.

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