Apparel and footwear company Nike Inc ( NKE ) reported third-quarter financial results after market close Thursday.

Here are the key highlights.

What Happened: Nike ( NKE ) reported third-quarter revenue of $12.429 billion, which was up slightly year-over-year. The revenue total beat a Street consensus estimate of $12.281 billion according to data from Benzinga Pro.

Nike ( NKE ) reported adjusted earnings per share of 98 cents, which beat a Street consensus estimate of 74 cents per share.

The company reported that Nike Direct revenue was $5.4 billion, up slightly year-over-year.

Nike Brand Digital sales were down 3% year-over-year in the quarter.

Wholesale revenue of $6.6 billion was up 3% year-over-year.

The Nike brand had sales of $11.9 billion, which was up 2% year-over-year. Converse brand revenue was $495 million in the quarter and down 19% year-over-year.

"We are making the necessary adjustments to drive Nike's ( NKE ) next chapter of growth," Nike ( NKE ) CEO John Donahoe said.

The company ended the quarter with cash and cash equivalents of $10.6 billion.

Related Link: Nike ( NKE ) Q3 Earnings Preview: Why Analysts Are ‘Incrementally Cautious Short-Term’

What's Next: Executives highlighted the future of the company during the earnings report.

"We're encouraged by the progress we've seen, as we build a multiyear cycle of new innovation, sharpen our brand storytelling and work with our wholesale partners to elevate and grow the marketplace," Donahoe said.

Nike ( NKE ) Chief Financial Officer Matthew Friend said the company is focused on returning to "strong growth."

"We are taking action to build a faster, more efficient Nike ( NKE ) and maximize the impact of our new innovation cycle," Friend said.

NKE Price Action: Nike ( NKE ) shares are up 2% to $103.30 in after-hours trading Thursday at versus a 52-week trading range of $88.66 to $128.68.

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