Nike Inc (NYSE:NKE) shares are trading higher on Wednesday after the company reported better-than-expected financial results for the first quarter.
What To Know: Nike beat analyst estimates on the top and bottom lines in the first quarter, reporting revenue of $11.72 billion versus estimates of $11 billion, and earnings per share of 49 cents versus estimates of 27 cents.
Total revenue in the first quarter was up 1% year-over-year as Brand revenues increased 2% and Wholesale revenues increased 7%, but Nike Direct revenues fell 4%.
Nike also saw strength in all geographic locations except for China. North America sales were up …