Adidas Posts Upbeat Q3 Profit
Adidas AG (OTC: ADDYY) 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.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.