6/14/2018, 10:19 PM (Source: TeleTrader)
more TeleTrader news

Adobe reports revenue at $2.2B in Q2, up 24% YoY

American computer software giant Adobe Systems Inc. reported on Thursday its revenue for the second quarter of the fiscal year 2018 stood at $2.2 billion, improving 24% compared to the same period a year ago. The company said its earnings per share for the period amounted to $1.33, indicating an increase of 44% year on year.

Adobe's operating income was $698 million for the second quarter of the year, up 39% compared to the same three months in 2017 while the company's net income amounted to $663 million for the period, rising 77% compared to the same quarter a year ago. Meanwhile, the software firm stated it repurchased around 2.6 million shares during the given three months, giving back $589 million in cash to shareholders.

"Adobe delivers all the capabilities to enable transformative digital experiences, including content creation and management, predictive analytics and commerce," said Adobe CEO Shantanu Narayen. He added: "Our record results in Q2 reflect continued execution against this significant opportunity where Adobe is the clear market leader."

Following the release of quarterly earnings, Adobe shares dropped 7.98% in the aftermarket trade on Wall Street.

Breaking the News / VK