Adobe Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - Adobe Inc. (ADBE) revealed earnings for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $620 million, or $1.36 per share. This compares with $1.25 billion, or $2.71 per share, in last year's first quarter.

Excluding items, Adobe Inc. reported adjusted earnings of $2.05 billion or $4.48 per share for the period.

Analysts on average had expected the company to earn $4.38 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.2% to $5.18 billion from $4.66 billion last year.

Adobe Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $620 Mln. vs. $1.25 Bln. last year. -EPS (Q1): $1.36 vs. $2.71 last year. -Revenue (Q1): $5.18 Bln vs. $4.66 Bln last year.

-Guidance: Next quarter EPS guidance: $4.35 - $4.40 Next quarter revenue guidance: $5.25 - $5.30 Bln