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Adidas Q1 profit climbs 37.9% YOY

adidas AG said its normalized net income for the first quarter came to €1.50 per share, compared with the S&P Capital IQ consensus estimate of €1.70 per share.

EPS increased 36.4% year over year from €1.10.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €310.0 million, an increase of 37.9% from €224.9 million in the prior-year period.

The normalized profit margin climbed to 7.2% from 5.5% in the year-earlier period.

Total revenue climbed 16.8% year over year to €4.77 billion from €4.08 billion, and total operating expenses rose 15.1% on an annual basis to €4.28 billion from €3.72 billion.

Reported net income rose 49.9% from the prior-year period to €352.0 million, or €1.71 per share, from €234.8 million, or €1.15 per share.