BEAVERTON, Ore. – Nike Inc. (NKE) on Thursday reported fiscal fourth-quarter net income of $1.51 billion, after reporting a loss in the same period a year earlier.

On a per-share basis, the Beaverton, Oregon-based company said it had a profit of 93 cents.

The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share.

The athletic apparel maker posted revenue of $12.34 billion in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $11.06 billion.