Adobe Systems Inc.’s first-quarter profit rises, beats estimates

(RTTNews) – Adobe Systems Inc. (ADBE) reported first-quarter earnings that rose year over year and beat Street estimates.

The company’s net income was $1.27 billion, or $2.66 per share. That compares to $1.26 billion, or $2.61 per share, in the first quarter of last year.

Excluding items, Adobe Systems Inc. reported adjusted earnings of $1.60 billion or $3.37 per share for the period.

Analysts on average had expected the company to earn $3.34 a share, according to figures compiled by Thomson Reuters. Analyst estimates generally exclude special items.

The company’s revenue for the quarter increased 9.0% to $4.26 billion from $3.91 billion last year.

Adobe Systems Inc. Results at a Glance (GAAP):

– Earnings (Q1): $1.27 billion. against $1.26 billion. Last year. -EPS (Q1): $2.66 vs. $2.61 last year. – Analyst estimate: $3.34 – Revenue (Q1): $4.26 billion vs. $3.91 billion last year.

-Advice: Next quarter EPS forecast: $3.30 Next quarter revenue forecast: $4.34 billion

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