Categories AlphaGraphs, Earnings, Technology

Adobe Systems beats estimates in Q1

Shares of Adobe Systems (ADBE) fell 0.8% during extended trading Thursday, despite the software solutions provider reporting stronger-than-expected earnings for the first quarter, helped by a marked increase in revenues.

Revenues of the San Jose, California-based firm climbed 25% to $2.60 billion in the first quarter, beating analysts’ estimate of $2.54 billion.

Adjusted earnings jumped 10% year-on-year to $1.71 per share, surpassing the market consensus of $1.61 per share. On a reported basis, Q1 profit was $1.36 per share, compared to $1.17 per share recorded in the first quarter of 2017.

CEO Shantanu Narayen said, “Adobe is fueling the creative economy, driving the paper-to-digital revolution and enabling businesses to transform through our leadership in customer experience management.”


For fiscal 2019, the digital publishing and analytics firm expects adjusted earnings of about $7.80 per share on revenues of approximately $11.150 billion. For the second quarter, the company expects adjusted earnings of $1.77 per share on revenue of about $2.7 billion.

Adobe shares have gained 22% in the trailing 52 weeks, compared to 2% recorded by the S&P 500 index. During the year-to-date period, ADBE shares have increased by 18%.


Adobe has an average 12-month price target of $267, which is at a 0.7% upside from the last close.


Earnings Calendar: Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Also Read:  Datadog, Inc. (DDOG) Q2 2020 Earnings Call Transcript

Most Popular

3D Systems Corp. (DDD) Q2 2020 Earnings Call Transcript

3D Systems Corp. (NYSE: DDD) Q2 2020 earnings call dated Aug. 05, 2020 Corporate Participants: Jessica Stansell -- Investor Relations Jeffrey A. Graves -- Chief Executive Officer And President Wayne Pensky -- Interim Chief Financial Officer Analysts:

Yelp (YELP): Revenue recovery depends significantly on COVID-19 environment

Shares of Yelp (NYSE: YELP) were down over 15% on Friday, a day after the company reported a decline in revenue along with a net loss for the second quarter

US economy adds 1.8 million jobs in July; unemployment rate drops to 10.2%

The US economy added 1.8 million jobs in July, marking the third consecutive month of employment growth as the country recovers from the coronavirus pandemic that has caused widespread disruption.