Chinese officials are expected to be in Washington this week to hold consultations with the U.S. ahead of high-level trade talks in October.World Economyread more
The ballot comes at a precarious time for the country's longest serving prime minister, with the right-wing incumbent facing formidable challenges.World Politicsread more
Saudi Arabia's defense spending is the world's third-largest — behind the U.S. and China, says Gary Grappo, former U.S. ambassador to Oman.Energyread more
President Donald Trump said Monday he's in no rush to respond to a coordinated attack that hit Saudi Arabia's oil industry over the weekend.Marketsread more
The price of oil could go sharply higher, depending on the duration of the disruption at Saudi oil facilities and whether there is a military response.Powering the Futureread more
Energy stocks, one of the worst-performing sectors this year, spiked Monday after an attack on Saudi Arabia's heart of oil production Saturday sent oil prices soaring.Marketsread more
The Saudi-led military coalition battling Yemen's Houthi movement said on Monday that the attack on Saudi oil plants was carried out by Iranian weapons and did not originate...Oilread more
After a series of setbacks on the road to an initial public offering, the parent company of real estate start-up WeWork is delaying the move, sources told CNBC Monday.Technologyread more
"The United States military, with our interagency team, is working with our partners to address this unprecedented attack and defend the international rules-based order that...Politicsread more
Crude oil's spike following attacks on Saudi Arabia's energy supply has experts weighing whether or not the gains will last.ETF Edgeread more
"In the old days, the averages would've plunged on this kind of oil shock. I know because I've lived through a bunch of them, starting in 1973," Jim Cramer says.Mad Money with Jim Cramerread more
Adobe shares rose more than 4% after hours on Tuesday after the company announced better-than-expected earnings for the second quarter of its 2019 fiscal year, which ended on May 31, and lighter-than-expected guidance.
Here are the key numbers:
Adobe's revenue grew 25% year over year in the quarter, according to a statement.
Adobe's largest business segment, Digital Media, which includes the Creative Cloud and Document Cloud products, produced $1.89 billion in revenue, up 22% and above the $1.86 billion consensus estimate among analysts polled by FactSet. The Digital Experience segment, which contains Magento and Marketo, had revenue of $783.5 million, over the FactSet consensus estimate of $777.2 million. The Publishing segment contributed $70.6 million in revenue, above the $66.1 million estimate.
In the quarter Adobe reported $7.47 billion in annualized recurring revenue for its Digital Media business. That's above the FactSet consensus of $7.44 billion.
"With Digital Media ARR growth coming down from 30%-plus range in the last couple of quarters, investors have begun to question the long-term growth potential of the segment," Stifel analysts led by Tom Roderick wrote in a note distributed to clients on Sunday. "While the potential for seat conversion still remains internationally, we view existing account penetration and new use-cases as the primary seat and ARR growth drivers in the near-term."
The analysts suggested that additional price increases could bring about more growth.
In the fiscal second quarter Adobe picked up new business from Amazon, Adobe CEO Shantanu Narayen said on a Tuesday conference call with analysts.
Adobe said that for the fiscal third quarter, it expects $1.95 in earnings per share, excluding certain items, on $2.80 billion in revenue. Analysts polled by Refinitiv had been looking for $2.05 in earnings per share, excluding certain items, and $2.83 billion in revenue for that period.
"FY 2019 is expected to be another record year," Narayen said. "We expect the first-half momentum to continue in the second half."
Adobe's stock is up 22% so far in 2019.