Adobe: Fiscal Q1 Earnings Snapshot
SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Adobe Systems Inc. (ADBE) on Thursday reported fiscal first-quarter earnings of $620 million.
On a per-share basis, the San Jose, California-based company said it had profit of $1.36. Earnings, adjusted for one-time gains and costs, were $4.48 per share.
The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $4.38 per share.
The software maker posted revenue of $5.18 billion in the period, which also topped Street forecasts. Ten analysts surveyed by Zacks expected $5.13 billion.
For the current quarter ending in May, Adobe expects its per-share earnings to range from $4.35 to $4.40.
The company said it expects revenue in the range of $5.25 billion to $5.3 billion for the fiscal second quarter.
Adobe shares have decreased slightly more than 4% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $570.59, a rise of 71% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADBE at https://www.zacks.com/ap/ADBE
