(Reuters) - Nike Inc , the world's largest footwear maker, reported a 24 percent rise in quarterly profit as it sold more high margin basketball shoes and apparel at higher prices.
The company said net income rose to $865 million, or 98 cents per share, in the fourth quarter ended May 31 from $698 million, or 78 cents per share, a year earlier. [ID:nBw7V6L6za]
Revenue rose 4.8 percent to $7.78 billion.
(Reporting by Ramkumar Iyer in Bengaluru; Editing by Savio D'Souza)
