Adobe Systems Earnings Sneak Out Early

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Adobe Systems Inc. (NASDAQ: ADBE) was supposed to release earnings after the close of trading on Tuesday. It looks like Adobe’s earnings report has come out early, with results of $0.30 in earnings per share (EPS) on revenue of $1 billion for the quarter. Thomson Reuters has the consensus estimates at $0.25 in earnings per share and $973.1 million in revenue. Keep in mind that the numbers a year ago were $0.35 in earnings per share a year ago and the revenue in the same quarter a year ago was $1.007 billion.

A figure thrown out by CNBC was that Adobe now has 1.84 million subscribers on its Creative Cloud subscription service.

Adobe shares were still up 0.8% at $68.68 with about 7 minutes until the closing bell. Stay tuned.

As noted earlier in our earnings preview:

  • Options traders appear to be braced for a move of up to 5% on the news.
  • At $68 or so, the 50-day moving average is down at $64.00, and the 200-day moving average is way down at $53.95.
  • Adobe shares are up 13.5% since the end of 2013.
  • Resistance has been up between $79 and $80 since February.