UBS Raises Price Target on Adobe Systems (ADBE) to $122 Following Strong 2Q

Adobe Reports Record Revenue

June 21, 2016 4:05 PM EDT

Strong Adoption of Cloud Solutions Drives 20 Percent Year-over-year Revenue Growth

SAN JOSE, Calif.--(BUSINESS WIRE)-- Adobe (Nasdaq: ADBE) today reported financial results for its second quarter fiscal year 2016 ended June 3, 2016.

Second Quarter Financial Highlights

Adobe achieved record quarterly revenue of $1.40 billion, representing year-over-year growth of 20 percent. Diluted earnings per share were $0.48 on a GAAP-basis, and $0.71 on a non-GAAP basis. Digital Media segment revenue grew by 26 percent year-over-year to a record $943 million, with Creative revenue growing 37 percent year-over-year to a record $755... More

Adobe Creative Cloud Innovations Take Creativity From Blank Page to Brilliant

June 21, 2016 9:02 AM EDT

New Capabilities in Flagship Products, Performance Enhancements and Updates to Adobe Stock Allow Effortless Creation

SAN JOSE, Calif.--(BUSINESS WIRE)-- Taking aim at inefficiencies that slow down the creation process, Adobe (Nasdaq: ADBE) today launched major updates to its flagship Creative Cloud tools and services. The release includes dramatic new features in Adobes flagship applications, performance enhancements across Creative Cloud (CC) and exciting updates to Adobe Stock including deeper integration within CC and the addition of an all-new Premium collection of high-quality stock content. Spanning across virtually all of the... More

Adobe Positioned as a Leader in Gartner Magic Quadrant for Mobile App Development Platforms

June 20, 2016 12:01 AM EDT

Adobe Positioned as a Leader for Four Consecutive Years

SAN JOSE, Calif.--(BUSINESS WIRE)-- Adobe (Nasdaq: ADBE) today announced it has been positioned by Gartner, Inc. as a Leader in the 2016 Magic Quadrant for Mobile App Development Platforms research report. Adobe was one of 17 vendors evaluated in the report. The evaluation criteria for completeness of vision included market understanding, marketing strategy, sales strategy, offering (product) strategy, business model, vertical/industry strategy, innovation and geographic strategy. Criteria for a vendors ability to execute included product or service, overall viability, sales execution/pricing,... More