Markets

Adobe (ADBE) Posts Earnings Beat, Revenue Surges 24%

Adobe Systems, Inc. (ADBE) just released its latest quarterly financial results, posting adjusted earnings of $1.55 per share and revenues of $2.08 billion.

Currently, ADBE is a Zacks Rank #2 (Buy), but that could change based on today's results. The stock is currently up 3.3% to $226.11 per share in after-hours trading shortly after its earnings report was released.

Adobe:

Beat earnings estimates . The company posted adjusted earnings of $1.55 per share, surpassing the Zacks Consensus Estimate of $1.43.

Beat revenue estimates . The company saw revenue figures of $2.08 billion, beating our consensus estimate of $2.04 billion.

Total revenues were up 24% year over year. Operating income improved 50% and net income grew 46% on a GAAP basis. Digital Media segment revenue was $1.46 billion, while Creative revenue was $1.23 billion and Document Cloud revenue touched $231 million.

"Adobe's outstanding growth is driven by enabling our customers to be more creative, work smarter and transform their businesses through our relentless focus on delivering innovation and intelligence across our solutions," said CEO Shantanu Narayen.

Here's a graph that looks at Adobe's recent earnings performance:

Adobe Systems Incorporated Price, Consensus and EPS Surprise

Adobe Systems Incorporated Price, Consensus and EPS Surprise | Adobe Systems Incorporated Quote

Adobe Systems Incorporated is one of the largest software companies in the world. It offers a line of products and services used by creative professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences across personal computers, devices and media.

Check back later for our full analysis on ADBE's earnings report!

Want more market analysis from this author? Make sure to follow @ Ryan_McQueeneyon Twitter!

Can Hackers Put Money INTO Your Portfolio?

Earlier this month, credit bureau Equifax announced a massive data breach affecting 2 out of every 3 Americans. The cybersecurity industry is expanding quickly in response to this and similar events. But some stocks are better investments than others.

Zacks has just released Cybersecurity! An Investor's Guide to help Zacks.com readers make the most of the $170 billion per year investment opportunity created by hackers and other threats. It reveals 4 stocks worth looking into right away.

Download the new report now>>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Adobe Systems Incorporated (ADBE): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

ADBE

Other Topics

Earnings

Latest Markets Videos