Nike earned $791 million in its recent quarter, up 16 percent from $682 million a year ago and ahead of analyst estimates.
In the quarter, which ran December-February, revenue rose 7 percent to $7.5 billion, just short of estimates.
Nike, the biggest sports equipment company worldwide, is taking advantage of missteps at No. 2 Adidas, which is looking for a replacement for its CEO.
Nike has been on a roll after revamping its struggling China division and benefiting from the trend of consumers wearing fashionable athletic wear and shoes as everyday items. That’s helped the company generate growth in mature markets such as North America, where sales increased 6 percent to $3.25 billion last quarter.
“Juggernaut” is how Rob Plaza, an analyst at Key Private Bank, described Nike’s results: “It’s really hard to bet against this company right now and find a large-cap company to produce this kind of profitable growth.”
Key Bank, based in Cleveland, owns Nike shares.
The gains in North America, Nike’s largest market, will continue — with orders for delivery from March through July rising 15 percent. Analysts estimated an 11.6 percent gain, on average, according to researcher Consensus Metrix.
Total orders rose 11 percent, excluding the effects of foreign-currency exchange rate fluctuations. That topped estimates of 9.9 percent. The measure is closely watched because investors view it as a proxy for future sales.