Market Overview

Adobe Shares See Mid-Day Surge Amid Leaked Q1 Results

Related ADBE
Adobe Is Killing Flash
Jim Cramer Weighs In On Adobe, Blackberry, Energizer, Weight Watchers And More
Russell Investments Group, Ltd. Buys Adobe Systems Inc, SPDR Select Sector Fund - Financial, ... (GuruFocus)

Investors in shares of Adobe Systems (NASDAQ: ADBE) saw a parabolic move at the end of Tuesday's trading session as the company's first-quarter results were leaked. The stock surged to a mid-day high at $70.24 just a moment after the results started hitting the wires; shares have since pared the gain, but remain in positive territory.

Adobe reported quarterly sales of $1 billion, down about one percent from the same quarter last year. Analysts on Adobe had been looking for sales of just $973 million. The top-line figure was down about four percent from the fourth quarter of 2013.

Digital media sales totaled $641.1 million, digital marketing sales totaled $314.4 million and sales in the print and publishing segment totaled $44.6 million.

The company posted a quarterly profit of $0.30 per share, beat the analyst consensus estimate of $0.25. Adobe's bottom-line number was down about 14 percent year-over-year.

Posted-In: Earnings News


Related Articles (ADBE)

View Comments and Join the Discussion!