Adobe Systems Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Adobe Systems Inc. (ADBE) reported a profit for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $1.27 billion, or $2.66 per share. This compares with $1.26 billion, or $2.61 per share, in last year's first quarter.

Excluding items, Adobe Systems Inc. reported adjusted earnings of $1.60 billion or $3.37 per share for the period.

Analysts on average had expected the company to earn $3.34 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.0% to $4.26 billion from $3.91 billion last year.

Adobe Systems Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $1.27 Bln. vs. $1.26 Bln. last year. -EPS (Q1): $2.66 vs. $2.61 last year. -Analyst Estimate: $3.34 -Revenue (Q1): $4.26 Bln vs. $3.91 Bln last year.

-Guidance: Next quarter EPS guidance: $3.30 Next quarter revenue guidance: $4.34 Bln