Adidas AG (ADS.XE) said Thursday that net profit for the third quarter rose sharply, beating analyst expectations.
The German sporting-goods company said that net profit in the three months ended Sept. 30 was 526 million euros ($609.9 million) compared with EUR386 million during the same period last year. Sales rose 8.7% to EUR5.68 billion. Analysts had expected net profit of EUR519 million and sales of EUR5.92 billion.
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Sales were helped by strong performance in North America, which reached EUR1.1 billion, the company said.
Adidas confirmed its outlook for 2017, having already raised its outlook following a strong second quarter. The company continues to expect net profit to rise to between EUR1.36 billion and EUR1.39 billion, it said.
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(END) Dow Jones Newswires
November 09, 2017 02:02 ET (07:02 GMT)