Adidas Posts Upbeat Q3 Profit

Adidas AG

reported a better-than-expected third-quarter net profit. Adidas' quarterly net profit surged 14% y/y to EUR344 million, beating analysts' estimates of EUR332 million. Its sales rose 11% to EUR4.17 billion, while operating profit climbed 12% to EUR494 million. Adidas' earnings per share climbed 14% to EUR1.64, versus analysts' estimates of EUR1.59. Adidas shares closed at $41.82 yesterday.