Adobe Systems Beats Earnings Estimates

Shares of Adobe Systems ADBE are trading slightly lower in the after-hours following the release of the company's Q2 earnings results. Currently, shares off by 0.03%, at $32.00; they closed the regular session higher by 3.42%, at $32.01. Adobe Systems Incorporated reported Q2 EPS of $0.55 on revenues of $1.02 billion; the Street was looking for $0.51 per share on revenues of $1 billion. Revenues increased 8.5% year over year. Adobe Systems Incorporated said it sees Q3 EPS in the range of $0.50-0.56 on revenues of $1.00-1.05 billion; the Street was at $0.54 per share on revenues of $1.02 billion. "Our strong Q2 performance demonstrates our strategy of enabling users to make, manage and measure great digital experiences is resonating with our customers," said Shantanu Narayen, president and CEO of Adobe. "Given our execution in Q2 against our large growth opportunities, we are reaffirming our 10 percent revenue growth objective in fiscal year 2011," said Mark Garrett, executive vice president and CFO of Adobe. Adobe Systems Incorporated offers a range of business, Web and mobile software and services used by professionals, knowledge workers, developers, marketers, enterprises and consumers for creating, managing, delivering, optimizing and engaging with content and experiences across multiple operating systems, devices and media.