Adidas Raises 2024 Earnings Forecast After Strong Q2 Performance

German sportswear giant Adidas sees shares surge 5% following a second upward revision of its full-year profit guidance.

Adidas' Q2 revenue rose 9% to €5.82 billion, surpassing analyst expectations.
Operating profit for 2024 is now projected at €1 billion, up from the previous €700 million forecast.
The popularity of Samba and Gazelle sneakers contributed significantly to the strong sales figures.
Weaker performance by rival Nike has further bolstered Adidas' market position.
Adidas' stock has gained 30% this year, reflecting investor confidence in its turnaround strategy.