Sporting goods company, Adidas AG (ADDYY Quick QuoteADDYY - Free Report) came out with fourth-quarter 2016 results, wherein the company posted net loss from continuing operations of €9 million (approximately $9.7 million). Nevertheless, this was narrower than the year-ago net loss of €17 million ($18.3 million).

For 2017, management envisions net income from continuing operations to rise in a range of 18% - 20% to €1.2 billion - €1.225 billion.

Revenues: Adidas generated revenues of €4.687 billion ($5.057 billion) that advanced 12% year over year. The Zacks Consensus Estimate stood at $5.1 billion. Revenues jumped 14% on a currency-neutral basis, backed by strong performances by adidas (up 18% on a currency neutral basis) and Reebok (up 3% on currency neutral basis).   

Management anticipates currency-neutral sales to advance in a range of 11% - 13% in 2017.

Key Events: Management announced a dividend of €2 per share, which will be payable on May 11, 2017, to stockholders present at the Annual General Meeting.

Zacks Rank: Currently, Adidas carries a Zacks Rank #2 (Buy) 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.

8 Stocks with Huge Profit Potential

Just released: Driverless Cars: Your Roadmap to Mega-Profits Today. In this latest Special Report, Zacks’ Aggressive Growth Strategist Brian Bolan explores a full-blown technological breakthrough in the making – autonomous cars. He also spotlights 8 stocks with tremendous gain potential to feed off this phenomenon. Click to see the stocks right now >>