Design software maker Adobe Inc. (NASDAQ: ADBE) reported stronger-than-expected revenues and profit for the third quarter of 2020, leveraging the general increase in demand for information technology solutions during the pandemic days.
Revenues climbed 14% year-over-year to $3.23 billion during the three-month period, aided by double-digit growth in the core Digital Media segment. The top-line also exceeded the estimates.
Consequently, earnings, adjusted for one-off items, moved up to $2.57 per share from $2.05 per share and came in above the consensus forecast. Net income was $955 million or $1.97 per share, compared to $793 million or $1.61 per share in the third quarter of 2019.
Adobe’s stock traded higher on Tuesday and closed the session up 2%. It maintained the uptrend in the after-hours, following the earnings announcement.
Shares of Lyft Inc. (NASDAQ: LYFT) were up 8% in afternoon hours on Wednesday. The stock has gained 53% over the past 12 months and 25% since the beginning of
Department store chain Target Corp. (NYSE: TGT), which has been thriving on the pandemic-driven shopping boom since early last year, maintained its strong performance during the holiday season and entered
Dollar Tree (NYSE: DLTR) reported fourth-quarter financial results before the opening bell on Wednesday. The discount store reported a 7% increase in Q4 net sales to $6.7 billion. The company