Market Overview

I think you’ll love what you hear,
what you’ll see and the opportunities
that will be set before you.
- Jon Najarian
GET TICKETS

Adobe Surges After Record Beat

Share:
Adobe Surges After Record Beat

Adobe Systems Incorporated (NASDAQ: ADBE) continued the strong run it has experienced over the past year, with an earnings and quarterly sales beat in the company’s first quarter earnings release Thursday.

  • Adobe Reports Q1 Adj. EPS $0.94, beating estimates by $0.07
  • Sales in the quarter came in at a record $1.68 billion, beating estimates by $30 million
  • Achieved record quarterly net income, cash flow and deferred revenue in Q1

“Whether you’re a designer, student, enterprise or government agency, reimagining your customer experience has become a critical part of every digital transformation strategy,” said Shantanu Narayen, president and CEO of Adobe. “Adobe’s mission to help our customers design and deliver great experiences has never been more relevant as is reflected in our outstanding Q1 results.”

Shares of Adobe were up over 3 percent at $126.90 in the after-hours session.

Posted-In: Earnings News After-Hours Center Movers Best of Benzinga

 

Related Articles (ADBE)

View Comments and Join the Discussion!

Todd Gordon's SPDR Gold Trust ETF Trade

PETA Buys Canada Goose Stock, Plans To Push For An End To Use Of Real Fur