Adobe Beats Estimates - Guides Down

March 15, 2019

Adobe reported financial results for its first quarter fiscal year 2019 ended March 1, 2019.

Net income was up at $674.2 million, or $1.36 per share from $583.1 million, or $1.17 per share, last year. Adobe Systems' non-GAAP earnings of $1.71 per share, came in ahead of estimates of $1.61 per share.

The firm noted revenue at $2.6 billion from $2.08 billion. Wall Street only expected revenue of $2.54 billion.

Adobe guided Q2 revenue at $2.70 billion, less than estimates of $2.72 billion.

“Adobe is fueling the creative economy, driving the paper-to-digital revolution and enabling businesses to transform through our leadership in customer experience management,” said Shantanu Narayen, president and CEO, Adobe. "Our results in Q1 reflect continued momentum across Adobe Creative Cloud, Document Cloud and Experience Cloud."

“We’re off to a strong start in fiscal 2019, with record revenue, strong earnings and more than $1 billion of operating cash flow in our first quarter," said John Murphy, executive vice president and CFO, Adobe.

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