Shares of Nike (NYSE: NKE) popped 6.2% on Tuesday after the athletic apparel titan's fiscal 2022 second-quarter earnings exceeded investors' expectations.
Nike's revenue inched up 1% year over year to $11.4 billion, driven in part by a 12% jump in digital sales.
Nike's gross profit benefited from a 9% rise in direct sales, which include those produced by its retail stores and e-commerce sites, to $4.7 billion. These sales tend to be more profitable than the company's wholesale operations. Nike's gross margin, in turn, improved by 2.8 percentage points to 45.9%.
Source Fool.com