Adobe (NASDAQ:ADBE) reported on Thursday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Adobe announced earnings per share of $2.27 on revenue of $3.09B. Analysts polled by anticipated EPS of $2.23 on revenue of $3.05B. That with comparison to EPS of $1.71 on revenue of $2.6B in the same period a year before. Adobe had reported EPS of $2.29 on revenue of $2.99B in the previous quarter. Analysts are expecting EPS of $2.34 and revenue of $3.22B in the upcoming quarter.
Adobe shares are down 13% from the beginning of the year , still down 26.31% from its 52 week high of $386.75 set on February 20. They are outperforming the Nasdaq which is down 20.33% year to date.
Adobe follows other major Technology sector earnings this month
Adobe's report follows an earnings beat by Cisco on February 12, who reported EPS of $0.77 on revenue of $12.01B, compared to forecasts EPS of $0.76 on revenue of $11.97B.
NVIDIA had beat expectations on February 13 with fourth quarter EPS of $1.89 on revenue of $3.11B, compared to forecast for EPS of $1.67 on revenue of $2.96B.
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