Adobe Systems (ADBE) Tops Q1 EPS by 5c

Adobe Systems (NASDAQ: ADBE) reported Q1 EPS of $0.66, $0.05 better than the analyst estimate of $0.61. Revenue for the quarter came in at $1.38 billion versus the consensus estimate of $1.34 billion.

• Digital Media segment revenue grew by 33 percent year-over-year to a record $932 million, with Creative revenue growing 44 percent year-over-year to a record $733 million.
• Strong Creative Cloud adoption drove Digital Media Annualized Recurring Revenue (“ARR”) to $3.13 billion exiting the quarter, an increase of $246 million.
• Adobe Marketing Cloud achieved strong bookings growth, and record revenue of $377 million that represents year-over-year growth of 21 percent.

Guidance:

Adobe sees FY16 revenue about $5.8 billion and EPS of about $2.80, from $5.7 billion and $2.70, respectively. The Street sees FY16 revenue of $5.74 billion and EPS of $2.76.

Sees Q2 revenue of $1.365 and EPS of $0.64 - $0.70. Consensus views expect Q2 revenue of $1.39 billion and EPS of $0.65.

For earnings history and earnings-related data on Adobe Systems (ADBE) click here.

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