Investing.com - Adidas (OTC:ADDYY) reported on Thursday second quarter earnings that missed analysts' forecasts and revenue that fell short of expectations.
Adidas announced earnings per share of €1.8 on revenue of €5.6B. Analysts polled by Investing.com anticipated EPS of €1.84 on revenue of €5.61B.
Adidas shares are down 32% from the beginning of the year, still down 49.14% from its 52 week high of €336.25 set on August 4, 2021. They are under-performing the Euro Stoxx 50 which is down 13.16% from the start of the year.
Adidas shares lost 100.00% in pre-market 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 July 28, who reported EPS of €7.46 on revenue of €69.54B, compared to forecasts EPS of €4.19 on revenue of €64.98B.
Volkswagen VZO had beat expectations on July 28 with second quarter EPS of €7.46 on revenue of €69.54B, compared to forecast for EPS of €4.19 on revenue of €64.98B.
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