Adobe, Apple send mixed signals; stocks end lower
Article Abstract:
Adobe Systems Inc's stocks fell $15.25, or about 30 percent, closing at $35.25 a share on May 25, 1990, after Adobe and Apple Computer Inc released conflicting reports estimating the sale of Apple laser printers that use Adobe software. Apple did not agree with Adobe's estimate that its revenue from Apple would fall by 23 percent from the 1st qtr of 1990 and released a more optimistic report. Adobe released a revised forecast saying it expects revenue for the 2nd qtr of 1990 to be 29 cents to 37 cents a share on revenue of $33 million to $36 million. The estimates are below the 51 cents a share on revenue of $42 million, which analysts had previously forecasted. Adobe earned 35 cents a share on revenue of $28.1 million in the same quarter in 1989.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1990
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Microsoft profit jumped by 65% in third period
Article Abstract:
Microsoft Corp reports a 65 percent increase in earnings for the 3rd qtr ended Mar 31, 1991. Net earnings for the quarter total $123.8 million (98 cents a share), which compares with $75.2 million (62 cents a share) in the same period a year ago. Revenue increased 57 percent to $486.9 million from $310.9 million. These results signify a growing penetration in the market for software applications and growing interest in Microsoft's Windows graphical user interface. In other news, Microsoft says that Apple Computer Inc intends to expand its copyright lawsuit against Microsoft. Apple had alleged copyright violations involving Microsoft's Windows 2.03. Apple apparently intends to include claims against Microsoft's Windows 3.0.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1991
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Adobe Systems to post lower net for second period
Article Abstract:
Adobe Systems Inc is expected to report earnings ranging from 27 cents to 35 cents a share on revenues between $32 million and $35 million for the 2nd qtr ending Jun 1, 1990. The lower-than-expected earnings reflect lower revenue from Apple Computer Inc, its largest customer. Adobe experienced a 23 percent drop in shipments of Apple products with Adobe technology in the 1st qtr of 1990 where earnings were 35 cents per share on revenues of $28.1 million. Adobe expects the last two quarters of 1990 to improve from its 2nd qtr level but sees its 1990 results falling below current expectations.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1990
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- Abstracts: Microsoft's 2nd-quarter profit jumped by 29%, topping Wall Street estimates. Microsoft estimates revenue rose 34% in its 1st period, surpassing expectations
- Abstracts: Software firms likely to post strong earnings; Microsoft expected to pace showing for June period, but bad news for Lotus
- Abstracts: Computer software firms are expected to post profit gains for fourth quarter. Microsoft, Lotus are expected to lead software firms to solid quarterly gains
- Abstracts: Xerox to unveil color copier laser printers. Xerox to post lower profit for this year. Xerox to take pretax charge of $400 million; firm to write off funds in VMS Realty Partners; analysts praise the move
- Abstracts: Study finds hidden costs of computing. More market researchers swear by PCs. Data switch; PC networks begin to oust mainframes in some companies; small machines and software that operates them are cheaper and often better; still work for the big systems