Shares of Nike Inc. shed their gains of the day in the extended session Thursday after the athletic apparel and equipment maker posted quarterly results after the bell.Nike NKE, +2.73% shares declined 2.9% to $94.28 on heavy volume, after closing Thursday up 2.7% at $97.08. The Beaverton, Ore.-based company reported fiscal second-quarter earnings of 74 cents a share on revenue of $7.38 billion.
Analysts surveyed by FactSet estimated earnings of 70 cents a share on revenue of $7.15 billion.
Nike said athletic footwear orders for delivery from December 2014 through April 2015 rose 7%, or 11% excluding currency changes. Analysts expected 11%.
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