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Adidas Q1 earnings rise, ups 2016 guidance for second time

Apr. 27, 2016 4:13 AM ETadidas AG (ADDDF) StockADDYY, ADDDFBy: Yigal Grayeff, SA News Editor
  • Adidas (OTCQX:ADDDFhas increased its 2016 outlook for a second time and said that strong brand momentum helped preliminary Q1 underlying net profit rise 38% to €350M as revenue jumped 17% to €4.8B.
  • The German sporting-goods maker now expects 2016 net profit from continuing operations to grow 15-18% vs a prior forecast of plus 10-12% and currency-adjusted sales to grow 15% vs plus 10-12% also.
  • Adidas' full Q1 results are due out on May 4.
  • Shares are +6.7% in Frankfurt.

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