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Nike posts earnings of 74 cents a share on revenue of $7.38B

Nike posted quarterly earnings that beat expectations but reported the slowest growth rate of future orders in four quarters that missed market estimates.

Shares of the world's largest sportswear maker traded nearly 3 percent lower in extended-hours trading, following the company's earnings release.

The company said future orders excluding currency are up 11 percent, just shy of expectations of 11.3 percent, according to research firm Consensus Metrix.

Nike posted earnings of 74 cents a share on revenue of $7.38 billion.

Analysts expected the firm to report earnings per share of 70 cents on revenue of $7.15 billion, according to a consensus estimate from Thomson Reuters.

The company cited strong consumer demand as the key driver for increased revenue. Converse was the best performing brand with a 24 percent increase in revenue from last year. The Nike brand increased 17 percent in revenue from the year before, with golf the only product category that saw no growth, the company release said.

"Our strong second quarter results once again demonstrate Nike is a growth company," Mark Parker, president and CEO of the company, said in a press release. "The power of our portfolio continues to unlock growth, as we keep a laser focus on our biggest opportunities. The breadth and depth of that portfolio has helped us consistently deliver strong resultsquarter after quarter, year after year."

The sportswear giant's offshore growth has accelerated, with 20 percent revenue growth reported in China for the first fiscal quarter and 25 percent growth in Western Europe.

—CNBC's Hailey Lee and Reuters contributed to this report.