Sporting goods company, adidas AG ADDYY came out with first-quarter 2018 results, wherein the company’s net income from continuing operations surged about 17% to €542 million (approximately $666.1 million).

For 2018, management continues to envision net income from continuing operations to rise in a range of 13%-17% to € 1.615-€ 1.675 billion.

Revenues: adidas generated revenues of €5,548 million ($6,818 million) that advanced 2% year over year. The Zacks Consensus Estimate stood at $6,987 million. Revenues jumped 10% on a currency-neutral basis, backed by strong performance by adidas (up 11%), offset with revenues at Reebok (down 3%).  

Management still anticipates currency-neutral revenues to advance roughly 10% in 2018.

Zacks Rank: Currently, adidas carries a Zacks Rank #3 (Hold) which is subject to change following the just released earnings results. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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