288.75 +11.97 (4.32%)
After hours: 7:54PM EDT
|Bid||287.51 x 1800|
|Ask||288.99 x 1000|
|Day's range||276.66 - 280.43|
|52-week range||204.95 - 291.71|
|Beta (3Y monthly)||1.08|
|PE ratio (TTM)||51.35|
|Earnings date||17 Sep 2019|
|Forward dividend & yield||N/A (N/A)|
|1y target est||296.81|
Analysts are estimating an all-time high EPS of $1.07 a share along with sales of $10.95 billion, representing growth of 8% and negative 2.7% respectively. ORCL has dropped on the last 7 consecutive earnings releases even after reporting beats on both top and bottom-lines.
(ADBE) stock (ticker: ADBE) was rising in late trading Thursday on better-than-forecast quarterly earnings. For the company’s fiscal second quarter ended May 31, Adobe posted revenue of $2.74 billion, up 25% from a year earlier and slightly better than the company’s forecast of $2.70 billion—but just a hair below the Wall Street consensus at $2.75 billion. Non-GAAP earnings were $1.83 a share, ahead of both the company’s forecast of $1.77 a share and the Wall Street consensus at $1.78 a share.
(Bloomberg) -- Adobe Inc. reported quarterly revenue that topped Wall Street estimates, signaling the Photoshop maker’s expanding product suite is continuing to fuel growth.Sales increased 25% to $2.74 billion in the fiscal second quarter from a year earlier, the San Jose, California-based company said Tuesday in a statement. Analysts, on average, projected $2.7 billion.For more than a decade, Chief Executive Officer Shantanu Narayen has sought to diversify the company known for creative software. Adobe made two big-ticket acquisitions in the past year, Magento, an e-commerce company, and Marketo, which sold marketing software, and is now working to integrate its bigger line of products. Adobe unveiled a software platform in March that will further connect the company’s programs with other systems, so clients can glean more insights about their consumer data.“We expect the first half momentum to continue in the second half,” Narayen said on a conference call. “Our revenue growth, cash flow, and operating profit differentiates us among” large software companies.Adobe’s shares gained about 2.8% in extended trading after closing at $276.78 in New York.The company, however, gave a profit forecast that fell short of analysts’ projections for the second consecutive quarter. Earnings, excluding some expenses, will be about $1.95 a share in the current period. Analysts estimated $2.05 a share, according to data compiled by Bloomberg.There’s “a bit of a relief that something didn’t go wrong,” Pat Walravens, an analyst at JMP Securities, said in an interview. “They had a nice beat and they’re maintaining a steady 25% growth rate. That’s solid.”Adobe’s stock has been an investor favorite for years, jumping sevenfold from 2012 through the end of 2018 -- six times more the S&P 500 Index and far outpacing rivals. While the shares have gained 22% this year, the enthusiasm has cooled since March after the earnings forecast missed estimates. The stock increased just 3.4% since that March 14 outlook through Tuesday’s close.Sales from Adobe’s experience cloud division, which comprises marketing, analytics and e-commerce tools, climbed 34% to $784 million in the period ended May 31, and is projected to grow by the same percentage in the fiscal third quarter.The creative cloud division, led by Photoshop, grew 22% to $1.89 billion in the quarter and is projected to increase by 20% in the period ending in August.Adobe’s remaining performance obligation, a measure of future revenue under contract, increased to $8.37 billion, compared with $8.13 billion at the end of the fiscal first quarter. That metric, plus the sales projection for the company’s experience unit, suggests demand will remain steady.(Updates with comments from analyst in the seventh paragraph.)To contact the reporter on this story: Nico Grant in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Andrew Pollack, Alistair BarrFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Adobe (ADBE) delivered earnings and revenue surprises of 2.81% and 1.64%, respectively, for the quarter ended May 2019. Do the numbers hold clues to what lies ahead for the stock?
Adobe Inc. shares rose in the extended session Tuesday, after a brief dip, as the software company's quarterly results beat Wall Street estimates but its outlook did not. Adobe shares were last up 2.8% after hours, following a 0.4% rise to close the regular session at $276.78. The company reported fiscal second-quarter net income of $632.6 million, or $1.29 a share, compared with $663.2 million, or $1.33 a share, in the year-ago period. Adjusted earnings were $1.83 a share. Revenue rose to $2.74 billion from $2.2 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $1.78 a share on revenue of $2.7 billion. Adobe expects earnings of about $1.95 a share on revenue of about $2.8 billion, while analysts had forecast $2.05 a share on revenue of $2.83 billion.
Adobe is sharpening its focus on the fast-growing cloud business, a fiercely competitive market dominated by Microsoft Corp, Oracle Corp and Salesforce.com Inc. In doing so, Adobe, known for its image-editing software Photoshop, partnered with Microsoft in March to bolster its sales and marketing software capabilities.
Investors will be keeping an eye on earnings reports from Adobe and others, Slack Technologies IPO on Thursday, and the Fed interest-rate decision on Wednesday.
Investing.com - The Federal Reserve policy meeting is expected to be the biggest event for markets this week. Expectations for a rate cut have increased in recent weeks as President Donald Trump's trade policies fueled fears over the prospect of a U.S. recession.
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Adobe Systems (ADBE) closed at $274.28 in the latest trading session, marking a -0.73% move from the prior day.
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Adobe today announced it will webcast its second quarter fiscal year 2019 earnings conference call to be held on Tuesday, June 18, 2019.
Logitech (LOGI) unveils its Sync platform to automatically signal real-time hazards, lend sharp insights and survey numerous video conferencing devices via cloud.
Companies like Salesforce (CRM) can see the burgeoning demand for big data and the analytics involved. They are planting their stake deep in the foundation of the industry no matter the cost.
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