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Adidas Q2 profit climbs 12.4% YOY

adidas AG said its second-quarter normalized net income was 70 euro cents per share, compared with the S&P Capital IQ consensus estimate of 71 cents per share.

EPS climbed 16.6% year over year from 60 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €142.1 million, a gain of 12.4% from €126.5 million in the prior-year period.

The normalized profit margin dropped to 3.6% from 3.7% in the year-earlier period.

Total revenue grew 14.9% year over year to €3.91 billion from €3.40 billion, and total operating expenses grew 15.4% from the prior-year period to €3.67 billion from €3.18 billion.

Reported net income increased on an annual basis to €145.0 million, or 72 cents per share, from €142.0 million, or 68 cents per share.