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Apps & Software

Adobe Hits The Mark (ADBE)

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By Douglas A. McIntyre Updated Published
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Adobe_logo_3Adobe Systems Inc. (NASDAQ: ADBE) reported better-than-expected results.  The software and media player giant earned $0.50 per share on revenue of $887.3 million.   First Call had estimates of $0.46 for earnings and $876.7 million for revenue.  For next quarter, Adobe guided non-GAAP EPS of $0.51 to $0.53 on revenue of $925 million to $955 million.  First Call had estimates of earnings of $0.51 on sales of $939.4 million.

One thing that will be helping Adobe is the launch of its flagship Creative Suite 4 product familynext week.  If this company is seeing any slowness being reportedelsewhere, you wouldn’t know it.  The company said thatthe strong quarter was was driven by record revenue for Acrobat andLiveCycle products, as well as the overall diversity of its business.

Adobe shares closed up marginally today at $38.14, but the stock is now trading north of $40.00 in after-hours trading.  According to NASDAQ, more than 157,000 shares changed hands since the earningsreport, although those numbers are rarely accurate on a second-to-second basis.

Jon C. Ogg
September 16, 2008

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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