Adobe Systems (ADBE) will be announcing its fourth-quarter results today after the closing bell. The San Jose, California-based design solutions provider is expected to report earnings of $1.88 per share, representing a 50% year-on-year growth, on revenues of $2.43 billion.
In the third quarter, adjusted earnings surged 57% to $1.73 per share, with a further strong subscription growth pushing up revenues by 24% to $2.3 billion. The primary contributors to the upturn were Adobe Document Cloud and Creative Cloud.
Adobe’s stock, which was one of the top gainers in the recent tech rally, hit an all-time high in October but retreated to its pre-boom levels last month. Over the past twelve months, the stock gained about 33%.
(this story will be updated shortly)
Costco Wholesale Corporation (COST) stock is down 0.69% ahead of its first-quarter earnings results today after the bell. Analysts, on average, expect the membership warehouses operator to report earnings of $1.62 per share on revenue of $34.79 billion. Watch this space here for live updates.
The retailer posted a 10.3% jump in net sales for the first quarter helped by an 8.8% increase in comp sales. The United States comp sales grew 11% while comp sales for Canada and other international locations rose 2.4% and 4% respectively.
E-commerce played a major role in the company’s strong earnings performance in the fourth quarter. And the company is expected to continue the trend for the first quarter too. Costco has been focusing on e-commerce in the US, Canada, Mexico, along with Korea, Taiwan, and the UK.
(The story will be updated shortly)
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