Adidas Q3 Net Income Rises; Brand Adidas Currency-neutral Revenues Up 12%

(RTTNews) - adidas (ADS.DE, ADS.MI) reported third quarter net income of 485 million euros compared to 476 million euros, a year ago. Earnings per share was 2.58 euros compared to 2.48 euros. Operating profit was up 23% to 736 million euros.

Third quarter revenues were 6.63 billion euros compared to 6.44 billion euros, last year. Currency-neutral revenues for the adidas brand increased 12%. Including Yeezy sales in the prior year, currency-neutral revenues increased 8%.

On October 21, adidas upgraded full-year financial guidance. For the full year, the company continues to expect double-digit currency-neutral revenue growth for the adidas brand. Including Yeezy sales in the prior year, currency-neutral revenues are now expected to increase by around 9%, revised from prior guidanc of an increase at a high-single-digit rate. The company's operating profit is now expected to increase to a level of around 2.0 billion euros, revised from prior guidance of to reach a level of between 1.7 billion and 1.8 billion euros.

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