Adidas has reported better-than-expected preliminary earnings for the third quarter of 2024, with revenues reaching €6.44 billion, slightly below the estimated €6.54 billion. The company’s gross margin improved to 51.3%, exceeding the expected 50.5%. Operating profit surged to €598 million, surpassing the estimate of €558.6 million. In light of these results, Adidas has raised its full-year operating profit guidance to approximately €1.2 billion, up from the previous forecast of around €1.0 billion. This marks the third consecutive quarter in which Adidas has increased its profit target, signaling strong performance despite challenges in the market. Notably, currency-neutral revenues increased by 10% year-over-year, with euro revenues growing by 7%. Excluding the impact of Yeezy, currency-neutral revenues rose by 14%. The announcement reflects Adidas' ongoing efforts to adapt and thrive in a competitive landscape.