By Aisha Al-Muslim

Nike Inc. (NKE) reported its first-quarter results after the close of trading Tuesday. Here's what you need to know:

PROFIT: Net income for the quarter, ending Aug. 31, was $1.09 billion, or 67 cents a share, compared with $950 million, or 57 cents a share, for the same quarter a year before. Analysts polled by Thomson Reuters were looking for 63 cents a share.

REVENUES: Revenues rose 10% to $9.95 billion, within range of the consensus forecast of $9.94 billion. Revenues for the Nike brand were up 10% to $9.4 billion, while revenues for Converse were up 7% to $527 million.

PROFIT MARGIN: Gross profit margin went up to 44.2% from 43.7% a year earlier.

STOCK MOVE: The stock fell 2.8% to $82.33 in after-hours trading Tuesday. Shares are up more than 59% in the last year.

Write to Aisha Al-Muslim at aisha.al-muslim@wsj.com

(END) Dow Jones Newswires

September 25, 2018 16:43 ET (20:43 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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