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 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."