Adidas Raises Guidance as Q3 Revenue Hits Highest Mark Ever
Adidas chief executive officer Bjørn Gulden touted the company’s highest quarter ever in terms of total revenue in its latest preliminary results on Tuesday.
In the third quarter of 2025, revenues reached 6.63 billion euros, up from 6.45 billion euros the same time last year. The German athletic company noted that currency-neutral revenues for the Adidas brand increased 12 percent in Q3, driven by broad-based double-digit growth across markets, product divisions, categories and channels.
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“I am extremely proud of what our teams achieved in the third quarter,” Gulden said. “Twelve percent growth for the Adidas brand leading to total revenue of 6.63 billion euros is the highest we have ever achieved as a company in a quarter.”
As for operating profit, the company noted that it “improved strongly” to 736 million euros, up from 598 million euros last year.
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And having completed the sale of the remaining Yeezy inventory at the end of last year, the company’s results for the third quarter of 2025 do not include any Yeezy contribution. Including Yeezy sales in the prior-year quarter, which were around 200 million euros, currency-neutral revenues increased 8 percent.
Looking ahead, the company is increasing its full-year guidance for 2025. Including Yeezy sales in the prior-year period, which was around 650 million euros, currency-neutral revenues are now expected to increase by around 9 percent. This is up from previous guidance which called for currency-neutral revenues to increase at a high-single-digit rate.
The company’s operating profit is now expected to increase to a level of around 2.0 billion euros, which is up from its previous guidance of between 1.7 billion euros to 1.8 billion euros.
Adidas noted that the improved profitability outlook reflects continued brand momentum, the better-than-expected business performance as well as the company’s successful efforts to partly mitigate the additional costs resulting from increased U.S. tariffs.
For the full year, the company continues to expect double-digit currency-neutral revenue growth for the Adidas brand.
“2025 is a success for us already,” Gulden noted. “I am especially happy to see that our performance business is growing strongly across categories and in all regions. The focus is now on transitioning well into 2026, which will be another exciting sports year with the Winter Olympics right at the beginning, the biggest football World Cup ever, and many more great events to look forward to.”
Adidas will publish its final set of financial results for the third quarter and host its quarterly conference call on Oct. 29.
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