Nike rises on first-quarter revenue forecast exceeding estimates

Shares of Nike NKE.N rise 6.3% to $66.49 after the bell

Nike expects first-quarter revenue to decline in the mid-single-digit percentage range, slightly outperforming estimates of a 7.3% drop, according to data compiled by LSEG

Company reports Q4 profit of 14 cents per share, vs estimates of 12 cents per share

Quarterly revenue fell 12% to $11.10 billion, compared with analysts' expectations of a 14.9% drop to $10.72 billion

Company's Q4 gross margin decreased 440 basis points to 40.3%, primarily due to higher discounts and changes in channel mix

As of last close, stock down 17.4% YTD