Adobe (ADBE, $276.790 beats fiscal Q3 earnings estimates; but issues guidance below analysts' forecasts
Adobe reported quarterly earnings and revenue that exceeded analysts’ estimates.
The software company’s adjusted earnings per share for the third quarter came in at $2.25, beating analysts’ expectations of $1.97. The earnings-per share was +18% higher compared to the prior year quarter.
Revenue increased +23% year-over-year to $2.83 billion, higher than analysts’ expectation of $2.815 billion. It also beat the company's own guidance of $2.8 billion.
Subscription revenue for the quarter came in at $2.546 billion, surpassing estimates of $2.527 billion. The figure also increased from last year's $2.021 billion.
The company has projected fourth quarter revenue of $2.97 billion, which is below analysts' projections of $3.04 billion. It expects adjusted EPS of $2.25, also below analysts’ expectations of $2.30.
ADBE's Stochastic Oscillator is staying in oversold zone for 4 days
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Notable companies
The most notable companies in this group are Microsoft Corp (NASDAQ:MSFT), Oracle Corp (NYSE:ORCL), Salesforce (NYSE:CRM), Adobe (NASDAQ:ADBE), Intuit (NASDAQ:INTU), Uber Technologies (NYSE:UBER), SERVICENOW (NYSE:NOW), Shopify (NYSE:SHOP), Palo Alto Networks (NASDAQ:PANW), CrowdStrike Holdings (NASDAQ:CRWD).
Industry description
Packaged software comprises multiple software programs bundled together and sold as a group. For example, Microsoft Office includes multiple applications such as Excel, Word, and PowerPoint. In some cases, buying a bundled product is cheaper than purchasing each item individually[s20] . Microsoft Corporation, Oracle Corp. and Adobe are some major American packaged software makers.
Market Cap
The average market capitalization across the Packaged Software Industry is 10.66B. The market cap for tickers in the group ranges from 291 to 3.15T. MSFT holds the highest valuation in this group at 3.15T. The lowest valued company is BLGI at 291.
High and low price notable news
The average weekly price growth across all stocks in the Packaged Software Industry was 2%. For the same Industry, the average monthly price growth was 4%, and the average quarterly price growth was 3%. CMAX experienced the highest price growth at 220%, while NXTT experienced the biggest fall at -64%.
Volume
The average weekly volume growth across all stocks in the Packaged Software Industry was -6%. For the same stocks of the Industry, the average monthly volume growth was 10% and the average quarterly volume growth was 20%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 52
P/E Growth Rating: 74
Price Growth Rating: 58
SMR Rating: 82
Profit Risk Rating: 89
Seasonality Score: 0 (-100 ... +100)