Adobe action falls after profits and revenues have exceeded consensus estimates

Adobe Inc.

ADBE + 1.25%

Shares fell 1% during the broad session on Thursday after the software company beat Wall Street's estimates for profits and revenues. The company reported net income for the first fiscal quarter of $ 674.2 million, or $ 1.36 per share, compared with $ 492.1 million, or $ 1.17 per share, for the corresponding period in the first quarter. Previous exercise. Adjusted for stock-based compensation, investment losses and tax adjustments, earnings were $ 1.71 per share, compared to $ 1.55 per share for the same period last year. 'Previous exercice. Revenues reached $ 2.6 billion compared to $ 2.08 billion for the same period last year. Analysts surveyed by FactSet forecast adjusted earnings of $ 1.62 per share and income of $ 2.55 billion. For the second quarter of the year, analysts model adjusted earnings of $ 1.88 per share and sales of $ 2.72 billion. Adobe said it expects a second quarter adjusted profit of about $ 1.77 per share for a business turnover of about $ 2.7 billion. The Adobe action has grown 23% over the past year, thanks to the S & P 500 index

SPX, -0.09%

up 2.2%.

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