Review of Adobe’s performance with revenues of $995 million and non-GAAP EPS of $0.32
Navi Mumbai, Maharashtra -- (SBWIRE) -- 09/21/2013 -- Adobe Systems, Inc., known for its Acrobat and Photoshop software, reported its Q3 2013 results on September the 17th. On the backdrop of the results announcement, the company’s share price rose more than 9.2% and more than 15.2 million shares were traded on 18-Sep-2013.
“We continue to execute well against our strategy with faster than expected adoption of Creative Cloud in our Digital Media business and strong momentum and growth in our Digital Marketing business”, President and CEO, Shantanu Narayen said during the analyst conference call.
The company delivered revenues of $995 million with non-GAAP earnings per share of $0.32. GAAP diluted earnings per share in Q3 were $0.16. Net income fell to $83 million or $0.16 per share in the third quarter from $201.4 million, $0.40 cents per share a year earlier. The acquisition of Neolane during the quarter contributed approximately 6 million in revenue to Q3 results and the impact from the transaction on earnings was less than a penny.
Forecasted Q4 adjusted earnings is $0.28 - $0.34 per share on revenue of $1 billion to $1.05 billion.
Mark Gerrett, Vice President and CFO said during the call that subscribers for subscription-based Creative Cloud have increased by 331,000 and the total subscribers now are well past a million mark. Adobe closed more ELTA contracts with enterprise customers in Q3 than the sum of those closed in Q1 and Q2. Shantanu Narayen also reiterated the fact that surpassing 1 million subscribers was a big milestone for the company.
Employees at the end of Q3 totalled 12,035 versus 11,413 at the end of last quarter.
More in-depth analysis of business development, financial results and forecast is available at Adobe’s recent Q3 2013 Earnings Call transcript available here.
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