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Adobe Climbs After Topping Estimates



Shares of Adobe (ADBE – Get Report) climbed after hours Tuesday's second quarter earnings release in which it topped analyst revenue and earnings estimates for the period

The San Jose-based software company reported fiscal second quarter earnings or $ 1.83 per share on an adjusted basis on revenue or $ 2.74 billion, which was a 25% increase over the same period last year. Analysts polled by FactSet were expecting the company to report earnings of $ 1.78 per share on revenue or $ 2.70 billion.

Adobe 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 wide-spread 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 FY1

9 and beyond."

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


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