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 €1.6 on revenue of €5.3B. Analysts polled by Investing.com anticipated EPS of €1.5 on revenue of €5.2B.
Adidas shares are down 28% from the beginning of the year, still down 46.46% from its 52 week high of €336.25 set on August 4, 2021. They are under-performing the STOXX 600 which is down 11.2% from the start of the year.
Adidas shares lost 4.35% in intra-day trade following the report.
Adidas follows other major Consumer Discretionary sector earnings this month
Adidas's report follows an earnings beat by Volkswagen ST on Wednesday, who reported EPS of €13.05 on revenue of €62.74B, compared to forecasts EPS of €8.58 on revenue of €61.55B.
Volkswagen VZO had beat expectations on Wednesday with first quarter EPS of €13.05 on revenue of €62.74B, compared to forecast for EPS of €8.58 on revenue of €61.55B.
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