Adidas Q1 profit beats forecasts at 705 million euros
The German sportswear company reported a 16% rise in operating profit for the first quarter. Strong demand helped the firm exceed analyst projections today.
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ADIDAS AG increased its first-quarter operating profit 16% to €705 million ($825 million). The result exceeded the €647 million consensus estimate from a company-compiled poll of analysts. Strong sportswear demand allowed the brand to maintain stable prices despite weakening consumer sentiment in Germany.
