Nike stock hit a new all-time high of $98.63 in after hours trading on Monday, after the footwear company posted a new record quarterly profit.
The stock rose 3.8% to close at $982.70, a gain of more than 5%.
It was the highest per share gain since September 2016, when Nike reported a gain.
The company reported $7.2 billion in revenue for the third quarter of 2017.
That’s up $7 billion or 8.1% from a year earlier.
Nike said it also benefited from higher-than-expected sales of its sneakers and shoes for men, which topped $5.2 million for the quarter, up from $5 million for all of 2016.
It’s also a boost for JDM, which generated more than $3.7 billion in net profit for the first quarter of the year, up 7% from the same period a year ago.JDM said it’s still expecting to post an operating loss of $1.4 billion for the full year.
Analysts have been expecting a profit of about $2 billion for Nike in the third quarters of 2017, according to Thomson Reuters I/B/E/S.
That would mark a return to the level of growth in the past several years.JLM, which is also known for its high-end athletic shoes, also reported a profit last year, but it had to sell its shoes to meet regulatory obligations.