Shares of Nike were in record-high territory in premarket trading Wednesday, a day after the company delivered quarterly earnings that sprinted past analysts' expectations and topped predictions for future orders.
The fitness giant posted fiscal second-quarter earnings of 90 cents per share after the bell Tuesday, up from 74 cents in the year-earlier period. Wall Street had expected 86 cents, according to consensus estimates from Thomson Reuters.
Beaverton, Oregon- based Nike also reported revenue of $7.69 billion, falling short of the $7.81 billion projected by analysts. Earnings per share grew faster than revenue due to gross margin expansion, a lower effective tax rate and a lower average share count, the company said.
Worldwide future orders of Nike brand athletic footwear and apparel scheduled for delivery from December 2015 through April 2016, a key metric for the company, soared 20 percent excluding currency impacts, blowing past the 14.1 percent estimated, Nike said.
"They've never grown futures as fast as 20 percent, and that's lapping pretty strong growth over the last couple of years," Kate McShane, managing director at Citi, told CNBC's "Squawk Box" on Wednesday.
In premarket trading, Nike shares were up 2.7 percent at $135.50, above an all-time closing high of $134.33 reached Nov. 27.