Nike reported mixed results for its fiscal third-quarter earnings with higher-than-expected earnings, but revenues still fell below average Wall Street expectations.

Nike remains optimistic about its continued growth in the coming quarters, stating that it expects global lockdowns to start to ease in major markets such as Europe and North America.

The company acknowledged that the global health crisis still causes a lot of uncertainty and the nationwide port congestion in the U.S. has decreased its ability to keep its stores stocked.

For its latest quarter ended Feb. 28, the company reported a net income of $1.45 billion, or 90 cents per share. This was a big jump from the $847 million, or 53 cents per share, it reported last year. The company's earnings for its latest quarter beat average analysts' expectations, which was only 76 cents per share for the three-month period.

Nike reported total sales of $10.36 billion for the quarter, higher than the $10.1 billion it reported over the same period last year. The figure is lower than the $11.02 billion expected by Wall Street.

Nike said that its total revenue for North America fell by 10% year-on-year. The company attributed the decline to the nationwide shipping problem, which meant that its partner outlets - including department stores and sporting goods stores - were not able to receive their orders on time.

The North American port congestion issue has been exacerbated by the global container shortage and the shortage of truck drivers. Nike said that it expects the issue to drag throughout most of the year.

Nike said that while sales at its brick-and-mortar stores in regions such as the Middle East, Europe, and Africa have dropped, sales from its digital platforms have increased by more than 60% over its latest quarter. The company said the drop in brick-and-mortar store sales was mostly caused by pandemic-related closures and restrictions, which it said should clear up in the latter part of the year.

Nike said that it expects a better performance in the current quarter as inventory transit times improve across North America. The company said that sales in Europe should also improve as the region eases restrictions.

Since the start of the year, the company's stock has remained relatively stable. The stock closed at $143.17 per share  Thursday. It dropped by nearly 4% in after-hours trading.