Investing.com - Adidas (OTC:ADDYY) reported on Friday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Adidas announced earnings per share of €2.6 on revenue of €5.27B. Analysts polled by Investing.com anticipated EPS of €1.95 on revenue of €5.03B.
Adidas shares are down 6% from the beginning of the year, still down 8.82% from its 52 week high of €306.80 set on March 10. They are under-performing the Euro Stoxx 50 which is up 13.2% from the start of the year.
Adidas shares gained 8.33% in intra-day trade following the report.
Adidas follows other major Consumer Cyclical sector earnings this month
Adidas's report follows an earnings missed by Volkswagen ST on Friday, who reported EPS of €6.51 on revenue of €62.38B, compared to forecasts EPS of €6.96 on revenue of €60.86B.
Volkswagen VZO had missed expectations on Friday with first quarter EPS of €6.51 on revenue of €62.38B, compared to forecast for EPS of €6.96 on revenue of €60.86B.
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com's earnings calendar