San Jose based Adobe Systems Incorporated (ADBE) has seemed invincible to economic trouble as the company continues to operate with a steady resolve and constant ability to make money. As one of the earlier fiscal first quarter earnings announcers, the company helped inspire hope in the stock trading markets that some companies thrived during the treacherous first quarter of 2008.
Adobe, widely known for their Adobe Acrobat software portfolio, said first quarter revenue increased 37%, while earnings jumped an incredible 52%, from the first quarter of 2008. Revenue climbed from $649.4 million to $890.4 million, while income was up from $143.9 million to $219.4 million.
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The revenue sharply bested analyst estimates of $875 for the company, prompting many to add the company’s stock to their trading portfolio. The earnings per share increased amounted to a jump from 24 cents per share during last year’s quarter to 38 cents per share during this year’s first quarter.
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In another stock investing motivator, earnings per share, excluding items, was 48 cents per share compared to analyst estimates of 45 cents per share. Covered called investing using covered call trading tips to take advantage of long-term price appreciation, is potential scenario with Adobe, given its strong performance and likelihood of upward movement.
The company also gave a strong outlook for the fiscal year, which ends in November; suggesting earnings per share will be between $1.86 and $1.92. Analysts are expecting $1.82. The company’s positive outlook, along with the strong earnings contributed to over a 3% stock price gain during regular stock trading, and another 6% spike in after hours stock investing, following the announcement.
Analysts currently have a $45.47 one year price target set for the company’s stock, well above its current position near $34. With today’s sharp increase on the positive news, it is possible that an investor with a long-term stock trading strategy might have a chance to get into a good long position if the stock has a slight pullback. Sometimes stock holders use price spikes as a chance to sell for profit.
Over the long-term, though, Adobe definitely seems like a good addition to a personal stock portfolio. It has great fundamentals, high expectations in a tumultuous market, and a good history of business success. There appears to be no significantly negative stock warnings signs and most analysts are high on the company in the current market.
One benefit to Adobe Systems is that it has a strong global presence, which has allowed it to thrive in light of a terrible US economic situation. Many companies are seeing the advantages of operating in a global environment, as they watch some domestic companies have a hard time dealing with a lack of consumer interest. When the economy does turn around, the outlook could grow even brighter for the thriving software maker.
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