Investing.com - Adidas (OTC:ADDYY) reported on Wednesday third quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Adidas announced earnings per share of €2.34 on revenue of €5.75B. Analysts polled by Investing.com anticipated EPS of €2.47 on revenue of €5.84B.
Adidas shares are up 2% from the beginning of the year, still down 16.45% from its 52 week high of €336.25 set on August 4. They are under-performing the STOXX 600 which is up 21.07% from the start of the year.
Adidas shares lost 4.64% 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 October 28, who reported EPS of €5.51 on revenue of €56.93B, compared to forecasts EPS of €4.51 on revenue of €55.55B.
Daimler had beat expectations on October 29 with third quarter EPS of €2.31 on revenue of €40.08B, compared to forecast for EPS of €2.3 on revenue of €38.69B.
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