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Adobe's second-quarter net profit of $2.74 billion fell 5% from a year earlier.

via:新浪科技     time:2019/6/19 12:13:54     readed:95

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In the fiscal quarter ended May 31, Adobe's net profit was $633 million, down 5% from $663 million in the same period last year, and its diluted earnings per share was $1.29, compared with $1.33 in the same period last year. Excluding some one-off items (not in accordance with GAAP), Adobe's adjusted net profit in the second quarter was $901 million, up from $825 million in the same period last year, and adjusted earnings per share was $183, up from $166 in the same period last year, exceeding analysts'expectations. Analysts had expected Adobe's earnings per share to reach $1.78 in the second quarter on average, according to FactSet, a financial information provider.

Adobe's second quarter revenue was $2.74 billion, up 25% from $2.2 billion in the same period last year, and slightly exceeded analysts'expectations. Analysts had expected Adobe's revenue to reach $2.7 billion in the second quarter on average, according to the FactSet survey.

According to the business sector, Adobe's subscription revenue in the second quarter was $2.456 billion, up from $1.923 billion in the same period last year; its product revenue was $153 million, slightly higher than $151 million in the same period last year; and its service and support revenue was $135 million, up from $121 million in the same period last year.

Adobe's total revenue cost in the second quarter was $407 million, compared with $281 million in the same period last year. Among them, the revenue cost of subscription business was 296 million US dollars, which was higher than 186 million US dollars in the same period last year; the revenue cost of product business was 9.35 million US dollars, which was lower than 10.78 million US dollars in the same period last year; and the revenue cost of service and support business was 102 million US dollars, which was higher than 84.21 million US dollars in the same period last year.

Adobe's gross profit in the second quarter was $2.337 billion, up from $1.914 billion in the same period last year. Adobe's operating profit in the second quarter was $750 million, up from $698 million in the same period last year. Excluding some one-off items (not in accordance with the General Accounting Standards of the United States), Adobe's adjusted operating profit in the second quarter was $1.05bn, up from $878bn in the same period last year.

Adobe's total operating expenditure in the second quarter was $1.587 billion, up from $1.216 billion in the same period last year. Among them, R&D expenditure was $476 million, up from $374 million in the same period last year; sales and marketing expenditure was $849 million, up from $646 million in the same period last year; general and administrative expenditure was $219 million, up from $178 million in the same period last year; amortization expenditure on intangible assets acquired was $43.03 million, up from $17.15 million in the same period last year.

In the second quarter, Adobe bought back about 2.5 million shares of company stock. Adobe's cash flow from business operations in the second quarter was $1.11 billion.

Adobe expects revenue to reach $2.8 billion in the third quarter of fiscal year 2019, including a 20% increase in digital media revenue, a 34% increase in digital experience revenue, an annual recurrent revenue of $360 million for net new digital media, and an 11% tax rate under the US General Accounting Standards, as well as an 11% tax rate for non-compliance with the US General Accounting Standards. Earnings per share will reach $1.40, and earnings per share will reach $1.95 if they do not comply with the General Accounting Standards of the United States.

According to data provided by Yahoo Finance website, 25 analysts expect Adobe's revenue to reach $2.83 billion in the third quarter on average, while 28 analysts expect Adobe's earnings per share to reach $2.05 in the third quarter if it does not comply with the U.S. General Accounting Standards.

Adobe shares rose $1.18, or 0.43%, to close at $276.78 in regular Nasdaq trading. Adobe shares rose another $7.72, or 2.79%, to $284.50 in after-hours trading as of 4:44 p.m. Eastern Time Tuesday (4:44 a.m. Beijing Time Wednesday). In the past 52 weeks, Adobe's highest price was $291.70 and its lowest price was $204.95.

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