Adobe Systems, Inc. (ADBE – Free Report) just released its latest quarterly financial results, posting adjusted earnings of $1.55 per share and revenues of $2.08 billion.
Currently, ADBE is a Zacks Rank #2 (Buy), but that could change based on today’s results. The stock is currently up 3.3% to $226.11 per share in after-hours trading shortly after its earnings report was released.
Beat earnings estimates. The company posted adjusted earnings of $1.55 per share, surpassing the Zacks Consensus Estimate of $1.43.
Beat revenue estimates. The company saw revenue figures of $2.08 billion, beating our consensus estimate of $2.04 billion.
Total revenues were up 24% year over year. Operating income improved 50% and net income grew 46% on a GAAP basis. Digital Media segment revenue was $1.46 billion, while Creative revenue was $1.23 billion and Document Cloud revenue touched $231 million.
“Adobe’s outstanding growth is driven by enabling our customers to be more creative, work smarter and transform their businesses through our relentless focus on delivering innovation and intelligence across our solutions,” said CEO Shantanu Narayen.
Here’s a graph that looks at Adobe’s recent earnings performance:
Adobe Systems Incorporated Price, Consensus and EPS Surprise
Adobe Systems Incorporated Price, Consensus and EPS Surprise | Adobe Systems Incorporated Quote
Adobe Systems Incorporated is one of the largest software companies in the world. It offers a line of products and services used by creative professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences across personal computers, devices, and media.