Adobe Systems (ADBE) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS
Adobe Systems (NASDAQ:ADBE) announced its earnings results on Thursday. The software company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.10, Bloomberg Earnings reports. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.95 billion. Adobe Systems had a return on equity of 21.40% and a net margin of 23.06%. The company’s revenue was up 24.8% on a year-over-year basis. During the same period last year, the firm earned $0.90 earnings per share. Adobe Systems updated its Q1 guidance to ~$1.27 EPS and its FY18 guidance to ~$5.50 EPS.
Shares of Adobe Systems (ADBE) traded down $1.83 during midday trading on Thursday, reaching $175.00. 4,711,261 shares of the company’s stock were exchanged, compared to its average volume of 2,461,260. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.23. Adobe Systems has a 1 year low of $101.91 and a 1 year high of $186.27. The company has a market capitalization of $85,052.38, a PE ratio of 51.97, a P/E/G ratio of 2.18 and a beta of 1.05.
In other news, EVP Ann Lewnes sold 1,953 shares of Adobe Systems stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $152.09, for a total transaction of $297,031.77. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Matthew Thompson sold 2,190 shares of Adobe Systems stock in a transaction that occurred on Monday, October 23rd. The shares were sold at an average price of $173.42, for a total value of $379,789.80. The disclosure for this sale can be found here. Insiders sold 12,896 shares of company stock worth $2,215,246 in the last three months. 0.38% of the stock is currently owned by corporate insiders.
WARNING: This piece of content was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright legislation. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/12/14/adobe-systems-adbe-releases-quarterly-earnings-results-beats-expectations-by-0-10-eps.html.
About Adobe Systems
Adobe Systems Incorporated is a software company. The Company offers products and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences.
Receive News & Ratings for Adobe Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adobe Systems and related companies with MarketBeat.com's FREE daily email newsletter.