Nike crushes fourth-quarter earnings

Nike just released fourth quarter earnings, and it crushed expectations on earnings and revenues..

Diluted earnings per share came in at $US0.98, up 26%, and more than expectations for $US0.86 according to Bloomberg.

Sales came in at $US7.8 billion, up 5%, versus estimates for $US7.7 billion.

Shares of the athletic apparel giant jumped more than 2% in after-hours trading. They are up 9% year-to-date, and 40% over the past 12 months.

In the release, CEO Mark Parker wrote, “Fiscal 2015 was an outstanding year for NIKE. Our consistent growth is fuelled by our connection to the consumer and our ability to deliver innovation at an unprecedented pace and scale. At no time in our history has the growth potential been greater for NIKE.”

The company recently signed an exclusive deal to provide on-court gear for the NBA.

More to come, refresh for updates.

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