adidas: raises outlook after strong second-quarter.
(CercleFinance.com) - Shares of adidas were up almost 9 per cent on Friday after the German sportswear company announced better-than-expected preliminary results for the second quarter and increased its financial outlook for the current fiscal year.
Revenues from the company's continuing operations increased 19% on a currency-neutral basis to 5 billion euros, compared to a growth consensus of around 15%.
The group's operating profit increased 18% to 505 million euros in the second quarter of 2017.
Due to this strong first-half-year performance, adidas has increased its 2017 financial outlook, now expecting currency-neutral sales to grow at a rate of between 17% and 19% in 2017, compared to a previous forecast of 12%-14%.
The shares were DAX's top gainers, jumping 8.6 per cent at 192.3 euros.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Revenues from the company's continuing operations increased 19% on a currency-neutral basis to 5 billion euros, compared to a growth consensus of around 15%.
The group's operating profit increased 18% to 505 million euros in the second quarter of 2017.
Due to this strong first-half-year performance, adidas has increased its 2017 financial outlook, now expecting currency-neutral sales to grow at a rate of between 17% and 19% in 2017, compared to a previous forecast of 12%-14%.
The shares were DAX's top gainers, jumping 8.6 per cent at 192.3 euros.
Copyright (c) 2017 CercleFinance.com. All rights reserved.