Adobe Earnings: ADBE Stock Dips Slightly After Releasing Q1 Results

Adobe (NASDAQ:ADBE) earnings report for the software company’s fiscal first quarter of 2020 have ADBE stock heading down after-hours Thursday. This is following to its adjusted earnings per share (EPS) of $2.27 on revenue of $3.09 billion. These both beat out Wall Street’s estimates of $2.23 per share on revenue of $3.04 billion.

Adobe Earnings: ADBE Stock Dips Slightly After Releasing Q1 Results

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Here’s what else is worth mentioning from the most recent Adobe earnings report.

  • Adjusted per-share earnings for the quarter comes in 32.75% higher than $1.71 during the same time last year.
  • Revenue is sitting 18.85% above the $2.6 billion reported in the fiscal first quarter of 2019.
  • Operating income of $937 million is a 34.82% increase year-over-year from $695 million.
  • The Adobe earnings report also includes a net income of $955 million.
  • That’s a 41.69% improvement over the company’s net income of $674 million from the same period of the year prior.

Shantanu Narayen, President and CEO of Adobe, said this about the ADBE earnings report:

“We delivered a record Q1 and our first $3 billion quarter. Our strategy in light of the COVID-19 situation has been to ensure the well-being of our employees, serve our customers and focus on our long-term opportunity.”

The Adobe earnings report also includes its guidance for the fiscal second quarter of 2020. It expects adjusted EPS of roughly $2.35 on revenue of approximately $3.175 billion. Meanwhile, Wall Street is looking for adjusted EPS of $2.33 on revenue of $3.22 billion for the quarter.

ABDE stock was down slightly after markets closed on Thursday.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/03/adobe-earnings-drop-adbe-stock/.

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