Underlying Results Ahead; ASC 606, Marketo and Magento Deals Distort Guidance; FVE Unchanged at $296
Wide-moat Adobe reported solid results for its fiscal first quarter, providing upside versus our and street expectations for revenue and EPS. Strength was broad based, with revenue upside and some one-time items also contributing. Revenue and EPS guidance for the second quarter were both light, which is not surprising since it was the first quarter the company reported after adopting ASC 606. Revenue guidance for the year was unchanged, while GAAP EPS was raised $0.05, despite $0.22 of EPS upsid...Adobe is a software company. The company provides a line of products and services used for creating, managing, delivering, measuring, optimizing, engaging and transacting with content across personal computers, devices and media. The company's segments are: Digital Media, which provides products, services and solutions that enable individuals, teams and enterprises to create, publish and promote their content; Digital Experience, which provides a platform and set of applications and services through Adobe Experience Cloud; and Publishing, which contains products and services that address market opportunities including eLearning solutions, web conferencing, web application development and printing.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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