Shares of Nike Inc. rose more than 2% late Thursday after the company swung to a surprise loss in the fiscal third quarter thanks to the U.S. tax overhaul, but its sales beat Wall Street expectations. Nike said it lost $921 million, or 57 cents a share, in the quarter, versus earnings of $1.1 billion, or 68 cents a share, in the year-ago quarter. Revenue increased 7% to $9 billion, compared with $8.4 billion a year ago. Analysts polled by FactSet had expected earnings of 53 cents a share on sales of $8.8 billion. The tax overhaul resulted in one-time provisional charges that reduced earnings per share by $1.25, Nike said.
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