Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

Adobe Reports 25% Revenue Increase in Latest Quarter

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/18/2019 | 04:57pm EDT

By Patrick Thomas

Adobe Inc. reported higher-than-expected revenue in its second quarter, driven by an increase in its subscription software business.

Revenue rose 25% from a year earlier to $2.74 billion. Analysts surveyed by FactSet had expected $2.71 billion of revenue the quarter.

At the company's digital-media business, which accounts for most of its subscription revenue, revenue grew 22% from a year earlier to $1.89 billion.

Adobe built its name around desktop publishing with products like Acrobat and the ubiquitous PDF but has since transitioned to a cloud-based, subscription business.

The company posted a profit of $632.6 million, or $1.29 a share, compared with $663.2 million, or $1.33 a share, a year ago.

Excluding one-time items, the company reported adjusted earnings of $1.83 a share. Analysts were expecting earnings of $1.25 a share, or $1.78 a share on an adjusted basis.

Total operating expenses were $1.59 billion for the quarter, compared with $1.22 billion the same period a year ago.

For its current quarter, Adobe said it expects $2.80 billion in revenue, earnings of $1.40 a share and adjusted earnings of $1.95 a share. The company's forecast is below the $2.83 billion in revenue and $1.33 a share analysts polled by FactSet were expecting.

Shares of Adobe ticked up 2.6% during aftermarket trading. The company's stock is up 22% this year.

Write to Patrick Thomas at Patrick.Thomas@wsj.com

Corrections & Amplifications

This item was corrected at 5:19 p.m. ET. An earlier version incorrectly used Adobe Inc.'s former name Adobe Systems Inc.

Stocks mentioned in the article
ChangeLast1st jan.
ADOBE INC. -1.38% 265.52 Delayed Quote.17.36%
ONE STOP SYSTEMS, INC. -2.30% 2.55 Delayed Quote.31.44%
This article is part of a news chaine.
Article 1 / 2
<< Preceding Next >>
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
07:53aShell Egypt to sell assets in Western Desert
RE
07:10aLong-haul, fuel efficient jets underpin demand at Las Vegas air show
RE
06:38aBoeing board to meet in Texas as scrutiny intensifies - sources
RE
06:18aChina's Xiaomi says plans to launch more than 10 5G phones next year
RE
06:12aIndonesian president pledges to improve human resources, job creation
RE
06:11aKey challenges for Indonesia's Widodo in second term
RE
06:06aQATAR CENTRAL BANK : Central Bank Governor Presents Development of Financial Sector in Qatar
PU
05:12aECB's Vasle urges fiscal policy action to boost economy
RE
04:55aEgypt's Qalaa Holdings to increase production capacity to 5.5 mln tons per year
RE
04:44aRussia says it missed oil-deal target due to rise in gas condensate output
RE
Latest news "Economy & Forex"