Adobe (ADBE) Releases FY 2019 Earnings Guidance
Adobe (NASDAQ:ADBE) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $7.80-7.80 for the period, compared to the Thomson Reuters consensus estimate of $7.77. The company issued revenue guidance of $11.15-11.15 billion, compared to the consensus revenue estimate of $11.16 billion.Adobe also updated its Q2 2019 guidance to $1.77-1.77 EPS.
Shares of NASDAQ ADBE traded up $3.31 during midday trading on Thursday, reaching $267.69. 3,556,614 shares of the stock were exchanged, compared to its average volume of 2,972,077. The stock has a market cap of $129.31 billion, a price-to-earnings ratio of 48.23, a P/E/G ratio of 2.59 and a beta of 1.10. Adobe has a 12 month low of $204.95 and a 12 month high of $277.61. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.44.
Adobe (NASDAQ:ADBE) last announced its quarterly earnings results on Thursday, December 13th. The software company reported $1.83 earnings per share for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.05). The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.43 billion. Adobe had a return on equity of 31.19% and a net margin of 28.69%. The company’s revenue for the quarter was up 20.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.26 earnings per share. On average, research analysts anticipate that Adobe will post 6.21 EPS for the current fiscal year.
In other news, Director Charles M. Geschke sold 21,258 shares of the business’s stock in a transaction dated Tuesday, January 8th. The shares were sold at an average price of $232.71, for a total transaction of $4,946,949.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 sold a total of 282,344 shares of company stock worth $69,007,648 over the last quarter. Company insiders own 0.32% of the company’s stock.
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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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