Adobe Systems (ADBE) Tops Q3 EPS by 3c
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
Adobe Systems (NASDAQ: ADBE) reported Q3 EPS of $0.75, $0.03 better than the analyst estimate of $0.72. Revenue for the quarter came in at $1.46 billion versus the consensus estimate of $1.45 billion.
“We drove strong revenue and earnings performance in Q3, further distancing ourselves from our competitors,” said Shantanu Narayen, Adobe president and chief executive officer. “Our leadership in cloud-based content and data platforms make us a mission critical partner to the world's biggest brands as they transform how they engage with their customers.”
“Fiscal 2016 is shaping up to be another great year and Adobe's record results in Q3 reflect both our market leadership and strong execution,” said Mark Garrett, Adobe executive vice president and chief financial officer. “We are expecting another record quarter in Q4, and the leverage in our operating model is reflected in our increase to earnings targets for the year.”
Adobe Systems sees Q4 adjusted EPS of $0.83 - $0.89 and revenue of $1.55 - $1.60 billion, versus estimates calling for EPS of $0.78 and revenue of $1.58 billion.
The company sees $5.80 - $5.85 billion, with estimates at $5.81 billion. Adobe also sees FY16 adjusted EPS of $2.94 - $3.00, versus the consensus at $2.87.
For earnings history and earnings-related data on Adobe Systems (ADBE) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Procter & Gamble (PG) Tops Q2 EPS by 2c
- General Electric (GE) Reports In-Line Q4 EPS
- DryShips (DRYS) Acquires Its First VLGC With 5 Year Time Charter Attached to Oil Major
Create E-mail Alert Related CategoriesEarnings, Guidance, Hot Earnings, Hot Guidance, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!