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Adobe Systems Inc. (NASDAQ:ADBE) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 6.11%.
Adobe Systems Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 38.6% to $0.35 in the quarter versus EPS of $0.57 in the year-earlier quarter.
Revenue: Decreased 3.56% to $1.01 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Adobe Systems Inc. reported adjusted EPS income of $0.35 per share. By that measure, the company beat the mean analyst estimate of $0.31. It beat the average revenue estimate of $986 million.
Quoting Management: “Creative Cloud is quickly becoming mainstream, with the overwhelming majority of Creative purchases on Adobe.com now being Creative Cloud subscriptions,” said Shantanu Narayen, president and chief executive officer, Adobe. “With Adobe Marketing Cloud, we are the partner of choice for Chief Marketing Officers as we help our customers migrate their businesses online.”
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