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Adobe Earnings: ADBE Stock Jumps 2% Higher on Q3 Results

ADBE beat out EPS and revenue estimates

Adobe (NASDAQ:ADBE) earnings for the creative software company’s fiscal third quarter of 2020 have ADBE stock on the rise after-hours Tuesday. That’s due to its adjusted earnings per share of $2.57 beating out Wall Street’s estimate of $2.41. Its revenue of $3.23 billion also comes in above analysts’ estimate of $3.16 billion.

Adobe (ADBE) logo on wall of corporate building.
Source: r.classen / Shutterstock.com

Here are some additional highlights from the most recent Adobe earnings report.

  • Adjusted per-share earnings are up 25% from $2.05 in the same period of the year prior.
  • Revenue for the quarter comes in 14% higher than the $2.83 billion reported in fiscal Q3 2019.
  • Operating income of $1.07 billion is a 24.6% increase year-over-year from $854 million.
  • The Adobe earnings report also has net income coming in at $955 million.
  • That’s a 20.4% jump from the company’s net income of $793 million from the same time last year.

Shantanu Narayen, president and CEO of Adobe, said this about the earnings results.

“Adobe delivered the best Q3 in our history in a challenging macroeconomic environment, demonstrating the global demand for our innovative solutions. We are confident that our leadership in the creative, document and customer experience management categories will drive continued momentum in 2020 and beyond.”

Adobe also includes guidance for fiscal Q4 in its earnings report. The company is expecting adjusted EPS of roughly $2.64 on revenue of $3.35 billion. Wall Street is looking for adjusted EPS of $2.64 on revenue of $3.36 billion in fiscal Q4.

ADBE stock was up 1.7% after-hours Tuesday and closed out normal trading hours up 2.4%.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.


Article printed from InvestorPlace Media, https://investorplace.com/2020/09/adobe-earnings-send-adbe-stock-higher/.

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