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Adidas (ADDYY) Posts Robust Q2 Results, Upgrades Outlook
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Sporting goods company, Adidas AG (ADDYY - Free Report) came out with second-quarter 2017 results, wherein the company’s net income from continuing operations surged about 16% to €347 million (approximately $381.6 million).
For 2017, management now envisions net income from continuing operations to rise in a range of 26% - 28% to € 1.360 - € 1.390 billion.
Revenues: Adidas generated revenues of €5,038 million ($5,539.9 million) that advanced 20% year over year. The Zacks Consensus Estimate stood at $5,726 million. Revenues jumped 19% on a currency-neutral basis, backed by strong performances by adidas (up 21%) and Reebok (up 5%).
Management now anticipates currency-neutral sales to advance in a range of 17%-19% in 2017.
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential.
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Adidas (ADDYY) Posts Robust Q2 Results, Upgrades Outlook
Sporting goods company, Adidas AG (ADDYY - Free Report) came out with second-quarter 2017 results, wherein the company’s net income from continuing operations surged about 16% to €347 million (approximately $381.6 million).
For 2017, management now envisions net income from continuing operations to rise in a range of 26% - 28% to € 1.360 - € 1.390 billion.
Revenues: Adidas generated revenues of €5,038 million ($5,539.9 million) that advanced 20% year over year. The Zacks Consensus Estimate stood at $5,726 million. Revenues jumped 19% on a currency-neutral basis, backed by strong performances by adidas (up 21%) and Reebok (up 5%).
Management now anticipates currency-neutral sales to advance in a range of 17%-19% in 2017.
Zacks Rank: Currently, Adidas carries a Zacks Rank #1 (Strong Buy) which is subject to change following the just released earnings results. You can see the complete list of today’s Zacks #1 Rank stocks here.
More Stock News: Tech Opportunity Worth $386 Billion in 2017
From driverless cars to artificial intelligence, we've seen an unsurpassed growth of high-tech products in recent months. Yesterday's science-fiction is becoming today's reality. Despite all the innovation, there is a single component no tech company can survive without. Demand for this critical device will reach $387 billion this year alone, and it's likely to grow even faster in the future.
Zacks has released a brand-new Special Report to help you take advantage of this exciting investment opportunity. Most importantly, it reveals 4 stocks with massive profit potential.
See these stocks now>>