Financial Roundup

04 November 2005

Global: (calendar Q3)

  • Adidas-Salomon
       The German-headquartered sportswear and equipment giant raised this year's earnings and sales forecasts as demand in the US picked up and orders for next year's World Cup soccer tournament increased.
       Net income will gain at least 20% this year from €314 million ($378m; £213m) and revenue will advance in the "high single-digit" percentage range instead of in the "mid-single digits" the company says.
       Q3 net income climbed 20% to €215m, above the $196m expected by analysts. Sales gained 9.4% to €1.92 billion.
       Orders at the end of the third quarter were up 12% excluding currency fluctuations, with a 14% gain in North America and an 8% increase in Europe, where consumers have been reluctant to spend, particularly in Germany.

    Global (calendar Q3)
  • Time Warner
       The world's biggest media company has reported net profits of $897 million (€743m; £505m), 80% higher than a year earlier. Cable TV customers upgrading to premium cable TV or adding broadband or phone services helped fuel profits.
       TW also vowed to spend $12.5 billion to buy back shares from investors. This should help boost the value of its shares, which slumped by 75% following the group's merger with AOL in 2000.
       The buyback program is far larger than the $5bn previously promised - although it still falls short of the $20bn demanded by some investors.
       While TW revenues rose 6.1% during the quarter to $10.5bn, AOL revenues fell 5% despite a near 30% rise in advertising revenue, as subscribers continued to desert it in droves.

    Data sourced from (Germany) and BBC Online; additional content by WARC staff