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Adidas Q2 profit climbs 83.3% YOY

adidas AG said its normalized net income for the second quarter was €1.25 per share, compared with the S&P Capital IQ consensus estimate of €1.38 per share.

EPS rose 80.3% year over year from 69 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €255.9 million, a gain of 83.3% from €139.6 million in the year-earlier period.

The normalized profit margin increased to 6.3% from 3.6% in the year-earlier period.

Total revenue rose 13.2% year over year to €4.42 billion from €3.91 billion, and total operating expenses rose 9.1% on an annual basis to €4.01 billion from €3.67 billion.

Reported net income rose from the prior-year period to €291.0 million, or €1.42 per share, from €145.0 million, or 72 cents per share.