Nike sold more sneakers and sports gear during the fiscal fourth quarter than Wall Street expected, helping to boost revenues by 4% to just over $10 billion.

Its earnings released Thursday, however, missed analysts' expectations by a few pennies a share, and the stock initially fell by more than 4% in after-hours trading before rebounding. Shares were trading slightly positive at 6 p.m. ET.

Nike earned 62 cents a share on an adjusted basis during the three months ended May 31, short of Wall Street's forecast for 66 cents a share, according to average analysts' estimates compiled by Refinitiv.

Revenues for the Nike brand, which excludes Converse merchandise, jumped 10% from the same quarter last year to $9.7 billion. Converse sales were about flat at $491 million.

Total sales in North America, excluding fluctuations in currency rates, were up 8% to $4.17 billion. Sales in the China region surged 22% to $1.70 billion.

Nike has struggled more recently to grow sales in its home turf as rivals in the U.S. like Adidas and Lululemon — and smaller up-start brands like Outdoor Voices and Rhone — have threatened to take market share with their athleisure footwear and clothes.

Footwear sales in North America, excluding fluctuations in currency rates, were up 9% during the latest quarter, while Nike's apparel business grew 6% and equipment sales were up 7%.