Categories AlphaGraphs, Earnings, Technology
ADBE Earnings: Adobe Q1 revenue up 9%; profit beats estimates
Design software maker Adobe Inc. (NASDAQ: ADBE) Tuesday said its first-quarter revenues increased amid stable demand for products. Earnings and revenues beat analysts’ estimates.
At $4.26 billion, first-quarter revenues were up 9% from the prior-year period and above the market’s projection. The top-line benefited from strong growth in the Digital Media and Digital Experience segments.
Net profit, excluding special items, rose to $3.37 per share from $3.14 per share last year and came in above the consensus forecast. Unadjusted net income was $1.27 billion or $2.66 per share, compared to $1.26 billion or $2.61 per share in the first quarter of 2021.
“Adobe achieved record Q1 revenue as Creative Cloud, Document Cloud and Experience Cloud continue to be pivotal in driving the digital economy. Adobe is committed to empowering individuals, transforming businesses and connecting communities,” said Adobe’s CEO Shantanu Narayen.
Check this space to read management/analysts’ comments on Adobe’s Q1 results
Adobe’s stock has dropped about 17% so far this year. The shares closed Tuesday’s session higher but dropped soon after the earnings announcement.
Prior Performance
_________________________________________________________________________________________________________________
Stocks you may like:
International Business Machines Corp. (IBM) Stock
_________________________________________________________________________________________________________________
Most Popular
MCD Earnings: McDonald’s comp sales up 12.6% in Q4; profit increases
Fast-food chain McDonald’s Corporation (NYSE: MCD) on Tuesday reported an increase in adjusted earnings for the fourth quarter of 2022 when its revenues remained broadly unchanged. The company said fourth-quarter
GM Earnings: All you need to know about General Motors Q4 2022 earnings results
General Motors Co. (NYSE: GM) reported fourth quarter 2022 earnings results today. Revenue increased 28.4% year-over-year to $43.1 billion. Net income attributable to stockholders increased 14.8% to $2 billion while EPS rose 19.8%
CAT Earnings: Highlights of Caterpillar’s Q4 2022 results
Construction-equipment manufacturer Caterpillar Inc. (NYSE: CAT) reported double-digit growth in fourth-quarter revenues and adjusted earnings. Adjusted net profit increased to $3.86 per share in the December quarter from $2.69 per
