NIKE Stock Gains 15% On Q2 Results

Shares of NIKE, Inc. (NKE) are gaining nearly 15% on Wednesday morning after reporting its second-quarter results.

NKE is currently trading at $118.57, up $15.36 or 14.88%, on the NYSE. Nike opened its trading at $103.00 after closing Tuesday's trading at $103.21. The stock has traded between $82.22 and $170.12 in the past 52-week period.

The company reported second-quarter profit of $1.33 billion or $0.85 per share, compared to $1.34 billion or $0.83 per share in last year's second quarter. Analysts expected earnings of $0.65 per share.

The company's revenue for the quarter rose 17% to $13.32 billion from $11.36 billion last year.

Revenues for the NIKE Brand were $12.7 billion, up 18 percent on a reported basis and up 28 percent on a currency-neutral basis, with strong growth across all geographies and channels.

Revenues for Converse were $586 million, up 5 percent on a reported basis and up 12 percent on a currency-neutral basis, led by double-digit growth in North America, partially offset by declines in Asia.

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