Adobe (ADBE) Issues Q2 2019 Earnings Guidance
Adobe (NASDAQ:ADBE) issued an update on its second quarter 2019 earnings guidance on Thursday morning. The company provided EPS guidance of $1.77-1.77 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.88. The company issued revenue guidance of $2.7-2.7 billion, compared to the consensus revenue estimate of $2.55 billion.Adobe also updated its FY 2019 guidance to $7.80-7.80 EPS.
Shares of NASDAQ ADBE traded up $3.31 during mid-day trading on Thursday, reaching $267.69. 3,556,614 shares of the company were exchanged, compared to its average volume of 2,972,077. Adobe has a 52 week low of $204.95 and a 52 week high of $277.61. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market capitalization of $129.31 billion, a P/E ratio of 48.23, a P/E/G ratio of 2.59 and a beta of 1.10.
Adobe (NASDAQ:ADBE) last posted its quarterly earnings data on Thursday, December 13th. The software company reported $1.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). Adobe had a return on equity of 31.19% and a net margin of 28.69%. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the firm posted $1.26 earnings per share. The business’s revenue was up 20.6% on a year-over-year basis. As a group, analysts forecast that Adobe will post 6.21 EPS for the current fiscal year.
In related news, Chairman Shantanu Narayen sold 139,834 shares of the business’s stock in a transaction dated Friday, January 25th. The shares were sold at an average price of $245.40, for a total transaction of $34,315,263.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ann Lewnes sold 2,692 shares of the business’s stock in a transaction dated Wednesday, December 19th. The stock was sold at an average price of $226.05, for a total transaction of $608,526.60. The disclosure for this sale can be found here. Insiders have sold 282,344 shares of company stock worth $69,007,648 in the last three months. 0.32% of the stock is currently owned by insiders.
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Adobe Inc operates as a diversified software company worldwide. Its Digital Media segment provides tools and solutions that enable individuals, small and medium businesses, and enterprises to create, publish, promote, and monetize their digital content. Its flagship product is Creative Cloud, a subscription service that allows customer to download and access the latest versions of its creative products.
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