Photoshop maker Adobe’s revenue jumps 21 percent on cloud push

Wall Street was looking for earnings of 50 cents a share on revenue of $1.21 billion. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Micron Technology, Inc. (MU) is trading at $15.99 at a volume of 4,102,303 shares.

Shares of design software titan Adobe (ADBE) are up $1.59, or 1.8%, at $81.90, after the company this afternoon reported fiscal Q3 revenue and earnings per share that topped analysts’ expectations, but forecast this quarter’s results below consensus. The company has a 50-day moving average price of $80.66 and a 200-day moving average price of $78.89. The stock was sold at an average price of $79.24, for a total transaction of $2,009,526.40. Eight equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. The stock declined less than 1 percent to $80.31 at the close in New York, leaving it up 10 percent this year.

Adobe Systems Incorporated is up 1.16% in the last 3-month period. Adobe Systems Incorporated, a NMS listed company, has a current market cap of 39.97B and on average over the past 3 months has seen 3278080 shares trade hands on a daily basis. Excluding items, Adobe’s earnings came in at $0.54 per share.

The company is estimated to release its earnings for the current quarter at $0.05 a share on $361.28 million sales. It also said that recurring revenue had now reached 73% of total sales and revised its forecast for the metric to $2.95 billion for the full year, up from a previous guidance of $2.93 billion. The Company offers a line of software and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring and engaging with content and experiences across multiple operating systems, devices and media. The Business ‘s runs in three segments: Digital Media, Digital Marketing, and Print and Publishing.

Consequently, that means slightly lower-than-expected revenue in the fourth quarter, as revenue is recognized during the course of these subscriptions rather than in a single lump sum, as with perpetual licenses.

Adobe has unveiled a new self-service programmatic ad platform for advertisers and media publishers using Adobe Marketing Cloud products.