Adobe Reports a Solid 3Q; Raising FVE to $245; Rumor of Marketo Acquisition Overshadows Earnings
Adobe reported solid third-quarter fiscal 2018 results, and we are raising our fair value estimate to $245 from $235 as we account for guidance and increased assumptions around margin expansion. The firm delivered revenue of $2.29 billion, representing 24% year-over-year growth. Adobe’s segments continued to fire on all cylinders, with digital media reporting $1.61 billion in revenue and digital experience reporting $614 million. The firm repurchased $750 million in stock for the quarter, as par...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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