Nike reports 8% growth in revenues

LOS ANGELES — Nike on Tuesday announced 8% growth in revenues in quarterly results.

"This summer proved how powerful sport can be around the world," said Nike CEO Mark Parker, in a conference call with analysts, citing the recent Olympics as a major growth engine for product sales.

The athletic sportwear icon, which makes shoes, shirts and other sporting goods, said revenues grew to $9.1 billion, with "strong global demand" driving double-digit international growth and single digit in North America. That's higher than expectations from analysts, who projected $8.86 billion.

Diluted earnings per share for the quarter were $0.73, up 9% from the year ago quarter. Net income increased 6% to $1.2 billion.

Nike was expected by analysts to report an adjusted quarterly profit of 56 cents a share.

Most of Nike's revenues of $8.5 billion, come from the Nike brand, while $574 million were recorded for Converse shoes.

Nike, based in Beaverton, Oregon, said earlier this year that a line of self-lacing shoes would go on sale in November. It's a case of fiction becoming fact, as Nike-branded self-lacing shoes were featured in the 1989 movie Back to the Future Part II.

Additionally, Apple will release a Nike-themed edition of the Apple Watch in October with the familiar Nike "swoosh" logo and Nike designed sport band.