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Adobe Surges After Record Beat

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Adobe Surges After Record Beat
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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

 

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