Adobe (ADBE.US) announced its first fiscal quarter earnings report for the 2019 fiscal year. Report shows that Adobe's first quarter revenue was $2.6 billion, exceedingAnalystThe expected $2.55 billion, compared with $2.1 billion in the same period last year;Net profitIt was US$674 million, a year-on-year increase of 16%. Diluted earnings per share were $1.36.
Excluding certain one-time items (not in accordance with US GAAP), Adobe's adjusted first-quarter net profit was $844 million, up from $772 million in the same period last year; adjusted earnings per share were $1.71. Higher than the $1.55 in the same period last year, exceeding analysts' expectations. According to the FactSet survey, analysts had previously expected Adobe's first-quarter earnings per share to reach $1.62.
Adobe's first-quarter gross profit was $2,204 million, up from $1,820 million in the same period last year. Adobe's first-quarter operating profit was $895 million, up from $723 million in the same period last year.
Specifically, Adobe’s first-quarter subscription business revenue was $2.305 billion, up from $1.793 billion in the same period last year; product business revenue was $171 million, which was essentially the same as the $172 million in the same period last year; Support business revenue was $125 million, up from $114 million in the same period last year.
It is worth noting that Adobe expects that the company's second fiscal quarter revenue will reach 2.7 billion US dollars in 2019, of which digital media sector revenue will increase by 20% year-on-year, digital experience department revenue will increase 32% year-on-year Net new digital media annual recurring income will reach 370 million US dollars. Adobe also expects the company's revenue in FY 2019 to reach $11.15 billion.
(Article source: Zhitong Finance)