UPDATE 1-Nike quarterly results beat, but North America disappoints

(Adds second-quarter details, shares, compares profit with estimates)

Dec 19 (Reuters) - Nike Inc's quarterly revenue and profit beat Wall Street expectations on Thursday, but lower-than-expected sales in North America, its biggest market, sent shares down about 2% after the closing bell.

The world's largest footwear maker faces intense competition from brands like Adidas, Skechers and VF Corp's Vans in North America, even as it pushes to sell exclusive merchandise through its tap-and-buy SNKRS app and retail stores.

In its attempt to gain market share over rivals, Nike has collaborated with celebrities, ramped up sneaker launches and increased marketing around major sporting events.

Revenue from North America rose 5.3% to $3.98 billion, but was slightly lower than the average analyst estimate of $4 billion.

The company's gross margin of 44% was also slightly below estimates of 44.1%, hurt by higher product costs and incremental tariffs in North America.

Nike's net income rose to $1.12 billion, or 70 cents per share, in the second quarter ended Nov. 30, from $847 million, or 52 cents per share, a year earlier.

Analysts on average had expected a profit of 58 cents per share, according to IBES data from Refinitiv.

Overall revenue rose 10.2% to $10.33 billion, while analysts had expected $10.09 billion. (Reporting by Nivedita Balu in Bengaluru; Editing by Maju Samuel)