Shows & Panels
- The 2014 Big Picture on Cyber Security
- AFCEA Answers
- Ask the CIO
- Building the Hybrid Cloud
- Connected Government: How to Build and Procure Network Services for the Future
- Continuing Diagnostics and Mitigation: Discussion of Progress and Next Steps
- Federal Executive Forum
- Federal Tech Talk
- The Intersection: Where Technology Meets Transformation
- Maximizing ROI Through Data Center Consolidation
- Moving to the Cloud. What's the best approach for me
- Navigating Tough Choices in Government Cloud Computing
- The New Generation of Database
- Satellite Communications: Acquiring SATCOM in Tight Times
- Targeting Advanced Threats: Proven Methods from Detection through Remediation
- Transformative Technology: Desktop Virtualization in Government
- The Truth About IT Opex and Software Defined Networking
- Value of Health IT
Shows & Panels
Ahead of the bell: Adobe
Wednesday - 3/20/2013, 10:00pm EDT
NEW YORK (AP) -- Adobe Systems rose 6 percent before Wednesday's opening bell after the software maker reported strong first-quarter results.
Citi analyst Walter Pritchard backed his "Buy" rating for Adobe, saying that a surprisingly strong bump in subscriptions did not adversely affect the company's top line.
"We believe stock performance from here hinges on the ability to achieve subscription targets," Pritchard wrote.
The company has been shifting its business to a subscription format and said it gained 153,000 Creative Cloud subscriptions over the three months ended March 1, as the pace of new subscriptions increased.
Excluding one-time items, the San Jose, Calif., company earned 35 cents per share, beating Wall Street predictions by 4 cents per share. Revenue fell 4 percent to $1.01 billion, but that still topped analyst expectations.
Jefferies analyst Ross MacMillan was more skeptical, saying that while the company's goals for the second half of the year seem "very achievable," the pace of subscriber growth needs to pick up. He maintained a "Hold" rating on the stock.
Shares of Adobe Systems Inc. rose $2.36 to $43.11 in premarket trading.
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