The news: Adidas’ win streak continued in Q3, as the popularity of its Samba and Gazelle sneakers drove the company to raise its guidance for the third time in as many quarters.
- Revenues rose 7% year over year (YoY) to €6.44 billion ($6.97 billion), slightly outpacing estimates for €6.43 billion ($6.96 billion), per Visible Alpha.
- Operating profits increased to €598 million ($647 million), beating expectations for €592.1 million ($640.7 million), thanks in part to sales of adidas’ remaining Yeezy inventory.