“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….”
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