iBankCoin
Joined Nov 11, 2007
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$ADBE Beats Expectations

“Adobe Systems Inc. (ADBE) reported second quarter 2013 earnings of 24 cents per share, beating the Zacks Consensus Estimate of 21 cents. Adjusted earnings per share exclude one-time items but include stock-based compensation expense. Following the earnings release, share price rose 5.21% in after-hours trading.

Revenues

Adobe’s total revenue was $1.011 billion, up 0.3% sequentiallybut down 10.1% year over year. Reported revenues were within management’s guided range of $975.0 million to $1.025 billion. The sequential increase was attributable to increased adoption of Adobe’s Creative Cloud.

Products generated 64.0% of Adobe’s revenues but were down 26.0% year over year. Subscription comprised 25.0% of total revenue, up 59.6% year over year while Services & Support brought in the balance, increasing 18.3% year over year….”

Full article

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