Traders Selling Adobe (ADBE) Amid Inline Q2 Results, Guidance
Tweet
Share
E-mail
Get Alerts ADBE Hot Sheet
Price: $230.61 +3.12%
EPS Growth %: +13.9%
Financial Fact:
Total cost of revenue: 202.7M
Today's EPS Names:
CCEL, MHGU, PLG, More
EPS Growth %: +13.9%
Financial Fact:
Total cost of revenue: 202.7M
Today's EPS Names:
CCEL, MHGU, PLG, More
Join SI Premium – FREE
Adobe Systems (Nasdaq: ADBE) reported earnings for the quarter ended June 3, 2011 Tuesday afternoon. While the stock is volatile after hours, shares last traded down nearly 2 percent to around $31.48.
The San Jose-based web and mobile software developer posted second-quarter non-GAAP net income of $279.9 million, up 20 percent from the year-ago quarter. Pro forma earnings totaled 55 cents per share, up 25 percent from the 44 cents per share reported in the same quarter last year but down about 5 percent from the first quarter.
Sales for the quarter rose 9 percent from $943.4 million to $1.02 billion.
Analysts on the Street had been expecting quarterly EPS of 51 cents on revenue of $994.78 billion.
Adjusted operating margin was 36.8 percent, up from 35.5 percent during the second quarter of 2010.
President and CEO of Adobe, Shantanu Narayen, said, "Our strong Q2 performance demonstrates our strategy of enabling users to make, manage and measure great digital experiences is resonating with our customers."
Mark Garrett, CFO of the company, commented, "Given our execution in Q2 against our large growth opportunities, we are reaffirming our 10 percent revenue growth objective in fiscal year 2011."
Adobe expects to report third-quarter earnings in the range of 50 to 56 cents per share on sales of $1.00 to $1.05 billion. The Street consensus currently sits at 54 cents per share for earnings and at $1.02 billion for revenue.
The San Jose-based web and mobile software developer posted second-quarter non-GAAP net income of $279.9 million, up 20 percent from the year-ago quarter. Pro forma earnings totaled 55 cents per share, up 25 percent from the 44 cents per share reported in the same quarter last year but down about 5 percent from the first quarter.
Sales for the quarter rose 9 percent from $943.4 million to $1.02 billion.
Analysts on the Street had been expecting quarterly EPS of 51 cents on revenue of $994.78 billion.
Adjusted operating margin was 36.8 percent, up from 35.5 percent during the second quarter of 2010.
President and CEO of Adobe, Shantanu Narayen, said, "Our strong Q2 performance demonstrates our strategy of enabling users to make, manage and measure great digital experiences is resonating with our customers."
Mark Garrett, CFO of the company, commented, "Given our execution in Q2 against our large growth opportunities, we are reaffirming our 10 percent revenue growth objective in fiscal year 2011."
Adobe expects to report third-quarter earnings in the range of 50 to 56 cents per share on sales of $1.00 to $1.05 billion. The Street consensus currently sits at 54 cents per share for earnings and at $1.02 billion for revenue.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies upgrades Shopify to Buy on AI commerce tailwinds, sees 30% upside
- BWS Financial Starts Capstone Energy Plus (CEPL) at Buy
- PBF Energy (PBF) PT Raised to $57 at Mizuho
Create E-mail Alert Related Categories
Earnings, Insiders' BlogRelated Entities
EarningsSign 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!
