Adobe: Fiscal Q1 Earnings Snapshot

SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Adobe Systems Inc. (ADBE) on Wednesday reported fiscal first-quarter earnings of $1.25 billion.

On a per-share basis, the San Jose, California-based company said it had net income of $2.71. Earnings, adjusted for one-time gains and costs, were $3.80 per share.

The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $3.66 per share.

The software maker posted revenue of $4.66 billion in the period, which also topped Street forecasts. Ten analysts surveyed by Zacks expected $4.61 billion.

For the current quarter ending in May, Adobe expects its per-share earnings to range from $3.75 to $3.80. Analysts surveyed by Zacks had forecast adjusted earnings per share of $3.43.

The company said it expects revenue in the range of $4.75 billion to $4.78 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $4.6 billion.

Adobe expects full-year earnings in the range of $15.30 to $15.60 per share.

Adobe shares have fallen 1% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $333.05, a fall of 21% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ADBE at https://www.zacks.com/ap/ADBE