Software maker Adobe (ADBE) handily beat analysts’ expectations for Q1 sales and profits. The company posted $890.4 million of Q1 revenue, up 37% year-over-year, beating the high end of its guidance and Wall Street’s $876 million consensus. Adjusted EPS came in at 48 cents per share, beating analysts’ 45 cents per share estimate. Operating income almost doubled year-over-year to $275.4 million.
Leading sales: The company’s Creative Suite 3 software for creative professionals, which integrates many of the apps it got from its $3.4 billion acquisition of Macromedia in 2005.
For Q2, Adobe expects to post sales between $855 million to $885 million, comared to the Street’s $875 million consensus. The company expects adjusted EPS to come in between 45 cents to 47 cents, higher than the Street’s 44 cents per share consensus. Shares are up 4% in after-hours trading after jumping 3.5% today. Release.
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