Adobe stock rallies 5% as quarterly results, outlook top expectations
Adobe Inc. shares rallied in the extended session Wednesday after the software company topped Wall Street expectations for the quarter and hiked its outlook for the year.
Adobe reported fiscal first-quarter net income of $1.25 billion, or $2.71 a share, compared with $1.27 billion, or $2.66 a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were $3.80 a share. Revenue rose to $4.66 billion from $4.26 billion in the year-ago quarter.
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