Adobe Systems (ADBE) Tops Q3 EPS by 3c
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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.
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