Adobe earned 36 cents per share on a non-GAAP basis on $1.01 billion in sales. Analysts were expecting the company to earn 33 cents per share on $1.01 billion in revenue.
According to information compiled by Thompson Reuters, analysts reported an average estimate of $0.34 in share earnings on $1.011 billion in sales for the fiscal quarter ending in August.
The company reported that Creative Cloud subscriptions hit 700,000, while Adobe Marketing Cloud bookings grew over 25%Shantanu Narayen, Adobe CEO, said in a statement, "Our Q2 results reflect our leadership position in Digital Media and Digital Marketing. Creative Cloud is revolutionizing the creative process, and Adobe Marketing Cloud is quickly becoming the platform of choice for the world's leading brands, advertising agencies and media companies." These sentiments were reiterated by CFO Mark Garret. In a statement, he said, "Adoption of Creative Cloud continued to accelerate and we drove strong Adobe Marketing Cloud bookings growth in Q2." Adobe management will host a conference call today at 5:00 p.m. EST to discuss the results. Adobe shares closed the regular session slightly lower, off .07% to $43.36. --Written by David Webster in New York >Contact by Email. Follow @thedavidwebster
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV