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  • Adobe Inc (NASDAQ:ADBE) Climbed 4.60% in after hours Tuesday following Second Quarter Earnings

Adobe Inc (NASDAQ:ADBE) Climbed 4.60% in after hours Tuesday following Second Quarter Earnings

By on June 19, 2019 0

Adobe Inc (NASDAQ: ADBE) shares climbed 4.60% in after hours Tuesday following its second quarter earnings release, in which Adobe topped the analyst revenue and earnings estimates for the period.

The company reported fiscal second quarter earnings of $1.83 per share, on an adjusted basis, over the revenue of $2.74 billion that was a 25% up over the same period last year. The analysts polled by FactSet were expecting the company, to report earnings of $1.78 per share over revenue of $2.70 billion.

The San Jose-based software company stock was rising 3.1% to $284.06 Tuesday after hours after rising 0.4% during the day. Share are up about 26% this year.

“Adobe’s continued momentum is being fueled by the explosion of creativity across the globe and the widespread business transformation agenda to deliver engaging customer experiences,” said Shantanu Narayen, president and CEO, Adobe. “With an innovative technology platform, exciting product roadmap and strong ecosystem of partners, we are well positioned for the second half of FY19 and beyond.”

The company expects to earn $1.95 per share, for the fiscal third quarter that includes an income tax adjustment of a loss of 7 cents per share. That EPS (earnings per share) figure is below analyst expectations of earnings of $2.05 per share.

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