Friedman Billing Ramsey downgraded the stock from Market Perform to Underperform, citing valution and slowing revenue
Revenue increased 4% to $887.3M while net income dropped 7% to $191.6M. Operating expenses grew 10% but earnings were bolstered by record revenues from Acrobat and LiveCycle. Adobe will also be releasing its anticipated Creative Suite 4 product next week.
Adobe reported revenues of $887.3M and a net income of $191.6M. Revenue was well over analysts estimates which were $878.9M. Adobe has depended on foreign markets given the difficult US economy, but as the US dollar appreciates, the more difficult it becomes for Adobe to rely on those markets. Adobe did not give an outlook.
On September 16, 2008 Adobe announced its third quarter earnings results. The company reported a 4% increase in revenues to $887 million for the quarter. However, even after beating analysts' estimates, Adobe shares fell roughly 5%.
On July 1, 2008 Adobe announced that they are releasing software to major search engines Google and Yahoo that will allow content within flash websites and swf files to be searchable. This capability will open millions of files to web searches.
On June 16, 2008 Adobe announced their second quarter earnings. The results pushed shares upwards as Adobe's revenues grew nearly 19% compared to the same quarter a year ago.
Adobe's popular Flash video platform has been relatively well-received, but many content companies have not adopted Flash streaming capability largely because of the high license fee and server license costs content delivery companies must charge. With Adobe's price cut for the Flash Media Streaming Server and also a newly-introduced Flash Media Interactive Server ($4500) is dramatic, a 90% price cut for some server versions. With the dramatic price drop Adobe hopes to simultaneously increase profits and market share. (reference: http://www.readwriteweb.com/archives/adobe_debuts_flash_media_server_3.php)
Adobe announces a partnership with Yahoo that will enable the use of Yahoo-operated display banner ads in PDF files--a system that would be far more efficient than the current PDF advertising scheme, which is static (producers of the PDF document must insert and sell ads on their own, instead of through a wide-base, bidding-oriented advertising marketplace like Yahoo's).
Adobe Systems reported Q3 revenue of $851.7 million, an increase of 41 percent compared to $602.2 million last year. The net income of the company was $205.2 million compared to $94.4 million last year. Further, the company announced expected Q4 revenue of $860 million to $890 million. A strong Q3 result and bright outlook for Q4, along with ‘Overweight’ rating from Robert W. Baird led to an increase in the stock price.
Stock prices plummet as Adobe announces a delayed April release date for its new, expanded version of Creative Suites.
Adobe's stock price spikes overnight as the company releases estimates for the first quarter of 2007 stating that revenues and shares are expected to increase, fueling investor confidence.