Several Records Broken In Adobe's Q3 Earnings, Shares Hit All-Time High
Shares of Adobe Systems Inc (NASDAQ: ADBE) hit record high territory after hours following a Q3 earnings beat. Shares are up about 5 percent to $105.45.
"We drove strong revenue and earnings performance in Q3, further distancing ourselves from our competitors," said CEO Shantanu Narayen
Adobe's EPS was $0.03 better than analyst expectations at $0.75 per share, representing a 39 percent year-over-year increase. Revenue also beat estimates coming in at $1.46 billion, a quarterly record for the company.
Several Adobe segments hit all time highs including Digital Media at $990 million, and Marketing Cloud revenues of $404 million.
"Our leadership in cloud-based content and data platforms make us a mission critical partner to the world's biggest brands as they transform how they engage with their customers."
Adobe shares are up 7 percent in 2016.
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