Adobe earnings: Business strong, product cycles boost outlook
Adobe's fiscal first quarter was stronger than expected and the company boosted its outlook for the next quarter amid new versions of its Flash Player and Creative Suite.
The company reported earnings of $127.2 million, or 24 cents a share, on revenue of $858.7 million, up from $786.4 million a year ago (statement). On a non-GAAP basis, Adobe reported earnings of 40 cents a share. Wall Street was expecting earnings of 37 cents a share on revenue of $827.4 million.
As for the outlook, Adobe said it was projecting second quarter earnings of $875 million to $925 million. On a non-GAAP basis, Adobe sees earnings of 39 cents to 44 cents a share. Wall Street was expecting earnings of 41 cents a share on revenue of $860.4 million. Shantanu Narayen, president and CEO of Adobe, said on a conference call with analysts that he ws bullish on the rest of the year.
By the numbers:
- Creative Solutions revenue was $432 million; business productivity revenue was $245.8 million and Omniture brought in $87.7 million. Platform revenue and print and publishing sales were equal at $46.6 million each.
- Omniture represented 10 percent of total revenue. Creative Solutions still carries team Adobe with half of the revenue.
- Omniture retained 95 percent of its customers in the quarter.
- Americas revenue was $408.4 million followed by Europe, Middle East and Africa at $275.4 million. Asia brought in $174.9 million in revenue.
- Adobe ended the quarter with 8,355 employees.
Here's a look at the trending data (click to enlarge):
