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11/9/2017, 8:18 AM (Source: TeleTrader)
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Adidas-0.63%

276.10
Chart for: ADIDAS AG NA O.N.

Adidas net income rises 36% to €526 million in Q3

Adidas AG reported on Thursday its IFRS net income attributable to shareholders in the third quarter of 2017 rose 36.2% to €526 million. The company's net income from continuing operations in the three-month period stood at €549 million, marking a rise from €407 million achieved a year ago.

Diluted earnings per share jumped 36.7% to €2.57 in the quarter to September, while operating profit grew from €591 million in the third quarter of 2016 to €795 million. The sportswear manufacturer's total net sales amounted to €5.7 billion, marking an 8.7 year on year increase.

"The company’s strategic growth areas – North America, Greater China and eCommerce – were again the main drivers of our strong top-line performance during the third quarter. We are even more pleased with the quality of our growth, which is clearly reflected in the exceptional profitability improvement in Q3," CEO Kasper Rorsted stated. He added the company is on track to achieve its financial targets for 2017.

Breaking the News / NP