Nike, the world's largest maker of athletic footwear and clothing, said that quarterly net profit rose to $325.6 million, or $1.28 per share, from $301.1 million, a year ago.
Sales growth in Asia and a tax agreement with the Dutch government boosted earnings 8% in the second quarter for the world's largest athletic shoe and clothing company.
The tax benefit claimed from the Dutch agreement boosted earnings per share by 13 cents -- but even without that benefit, the company beat Wall Street estimates of $1.12 per share.
Sales increased 10% to $3.82 billion for the quarter ended Nov. 30, up from $3.47 billion in the same period last year. "How are we doing? In a word, I'd say good," Nike Chief Executive Mark Parker said in a conference call with analysts.
The other brands owned by the company were doing particularly well, Parker said, especially Converse, with revenue up nearly 50%.