While the rest of the economy may be in the tank, Adobe’s earnings beat expectations.
Tuesday, Adobe said it earned 50 cents per share in its fiscal third quarter, which ended August 29. That beat Wall Street’s expectations of 46 cents per share and its own estimates of 39 to 41 cents per share.
Revenue climbed 4 percent to $887 million, beating Wall Street’s forecast of $877 million, the Associated Press reported Wednesday.
Adobe stock climbed 2 percent before losing ground with everyone else late in the day.
In other news, Google was down over 5 percent Wednesday. Amazon lost almost 8 percent.