New York (AFP) – Nike reported flat profits on higher sales Tuesday in results that topped estimates and lifted shares as strong demand helped counter the drag from heavy discounting due to excessive inventory. Profits for the quarter ending at November 30 came in at $1.3 billion, the same as in the year-ago period while revenues jumped 17 percent to $13.3 billion. “Consumer demand for Nike’s portfolio of brands continues to drive strong business momentum in a dynamic environment,” said Chief Financial Officer Matthew Friend. “We remain focused on what we can control.” In the wake of supply ch…