New York • Nike's fourth-quarter net income rose 5 percent as higher revenue offset heavy investments in marketing for the World Cup soccer tournament.
Results topped expectations and shares rose in aftermarket trading.
Nike is outfitting 10 teams during the World Cup, taking place now in Brazil, including the U.S. team.
The athletic gear maker says net income for the three months ended May 31 rose to $698 million, or 78 cents per share. That compares with net income of $662 million, or 76 cents per share, in the same quarter last year. Analysts expected net income of 75 cents per share, according to Fact Set.