Shares of Adobe Systems Jump to All-time Record High After Upbeat Q2 Earnings Report
Jun, 21st 11:48
Shares of Adobe Systems Inc. jumped more than 4 percent ahead of the opening bell on Wednesday after the company reported last quarter’s earnings results that beat expectation late Tuesday.
Shares of the American multinational computer software company jumped to all-time record high of $147.00 per shares in pre-market trading on Wednesday after having closed the regular session with a 0.4% increase at $140.91 on Tuesday.
Adobe Systems reported earnings per share (EPS) of $1.02 on sales of $1.77 billion for its fiscal second quarter, which was above the Wall Street consensus estimate of $0.95 for EPS and of $1.73 billion for sales. Revenues rose 26.7% from the same quarter last year.
The San Jose, CA-based software giant claimed net income of $374.4 million, or 75 cents a share for the last quarter. Adobe forecast EPS of around $1.00 and revenues of $1.815 for the current quarter, which topped Wall Street estimates of $0.97 for Q3 EPS and $1.8 billion for revenues.
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