Adidas released first-quarter earnings Friday, reporting net income of $605 million with revenue growing 27% for the first three months of the year.

The German sportswear company saw growth in all market segments, including China.

• Footwear sales increased 31%. 
• Sales in China grew 156%. 
• It’s reopened 89% of its stores worldwide since the pandemic-related closures.
• E-commerce sales rose another 43%, after a 35% uptick in the same quarter last year.

Going forward, adidas expects currency-neutral sales to rise at a “high-teens” rate for the remainder of the year.

In Q2, the company is “forecasting a significant top-line acceleration” with sales expected to increase by around 50%, fueled by “an array of innovative product releases.”

In China, adidas and other international retailers have faced boycotts after taking a stand against the treatment of Muslim Uyghurs in the country’s Xinjiang region.

Adidas stated that it has a “zero tolerance approach” to slavery and human trafficking. The company noted that it has “never manufactured goods in Xinjiang.”

“We are still very confident we will continue to build our position in China, which is the single biggest market for us,” CEO Kasper Rorsted told CNBC.

DraftKings’ willingness to bet on itself is paying off.

The sports betting operator reported Q1 earnings of $312 million on Friday, a 253% uptick compared to $89 million during the same period in 2020. The company also said it has 1.5 million monthly unique paying customers — more than FactSet’s estimated 1.31 million. 

Both revenue and loss per share outperformed analyst estimates collected in a Refinitiv survey. 

• $312 million in revenue vs. $236.2 million expected
• $0.36 loss per share vs. $0.42 expected

In response to an impressive Q1, DraftKings raised its fiscal 2021 revenue guidance from between $900 million to $1 billion to a range of $1.05 to $1.15 billion. 

DraftKings has locked in several high-profile partnerships and acquisitions in recent months:

• Acquired sports betting radio network and streaming channel VSiN in March. 
• Inked a $50 million deal with Meadowlark Media for Dan Le Batard’s radio show and podcast network in April.
• Agreed to a five-year partnership with UFC worth more than $100 million, per Sportico. 

The company does not expect to be profitable in 2021 due to expenses incurred in expanding its offerings and reach.

Genius Sports announced Thursday that it acquired Second Spectrum — the official analytics provider for the NBA, Premier League, and MLS — for $200 million. 

The Second Spectrum purchase comes after a series of major deals for Genius in the past year.   

• Dec. 14: Agreed to acquire Sportzcast, a leading U.S. scoreboard data company used in more than 6,000 venues globally. 
• April 2: Scored exclusive NFL data rights for $120 million per year in a six-year deal.
• April 20: Completed a $1.5 billion merger with dMY Technology Group to go public.
• May 3: Agreed to acquire F2P game provider FanHub.

Second Spectrum is backed by Los Angeles Clippers owner Steve Ballmer and uses video indexing and visualizations to help users understand what happens in a game. Ballmer is the richest sports team owner in the U.S. with a net worth of $68.7 billion.

Last week, Genius reported $47 million in revenue in its fiscal Q4, a 27.6% increase year-over-year. Full-year revenue reached $149.7 million.