Every dip is an opportunity in Adode (ADBE).
For one, the company continues to thrive because many of its products are seeing big demand. In fact, with millions of us working and schooling from home, Adobe’s software provides critical software for online work, paperless workflow, and e-commerce.
Two, Adobe’s earnings growth will more than likely continue.
The company expects for the momentum to continue for the rest of the year and beyond. Net income came in at $955 million, or $2.57 adjusted EPS, compared to net income of $7.93, or $1.63 year over year. Revenue was up 14% to $3.23 billion from $2.8 billion year over year. Guidance was above expectations, as well.
“Adobe delivered the best [third quarter] in our history in a challenging macroeconomic environment, demonstrating the global demand for our innovative solutions,” CEO Shantanu Narayen said, as quoted by Barron’s. “We are confident that our leadership in the creative, document and customer experience management categories will drive continued momentum in 2020 and beyond.”