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Adidas Q1 profit climbs 23.7% YOY

adidas AG said its normalized net income for the first quarter was €1.10 per share, compared with the S&P Capital IQ consensus estimate of €1.10 per share.

EPS climbed 30.4% year over year from 84 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €224.9 million, a gain of 23.7% from €181.8 million in the prior-year period.

The normalized profit margin increased to 5.5% from 5.2% in the year-earlier period.

Total revenue increased 17.3% year over year to €4.08 billion from €3.48 billion, and total operating expenses grew 17.2% year over year to €3.72 billion from €3.17 billion.

Reported net income grew 12.3% year over year to €234.8 million, or €1.15 per share, from €209.0 million, or 97 cents per share.