Nike posted a smaller-than-expected drop in second-quarter revenue on Thursday, as the embattled sportswear brand's release of newer versions of performance and running shoes drew customers to its stores and website.

The company's second-quarter net revenue fell to $12.35 billion from $13.39 billion a year earlier. Analysts had expected a 9.41% fall to $12.13 billion, according to estimates compiled by LSEG.