Investing.com - Adidas (OTC:ADDYY) reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Adidas announced earnings per share of €0.58 on revenue of €5.14B. Analysts polled by Investing.com anticipated EPS of €0.2928 on revenue of €5.18B.
Adidas shares are down 20% from the beginning of the year, still down 40.11% from its 52 week high of €336.25 set on August 4, 2021. They are under-performing the Euro Stoxx 50 which is down 14.78% from the start of the year.
Adidas shares gained 8.89% 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 Daimler on February 24, who reported EPS of €11.82 on revenue of €43.39B, compared to forecasts EPS of €3 on revenue of €43.86B.
Zalando SE had missed expectations on February 27 with fourth quarter EPS of €0.33 on revenue of €3.1B, compared to forecast for EPS of €0.3827 on revenue of €3.07B.
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