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Adobe profit beats on strength in its digital media business

“Photoshop maker Adobe Systems on Thursday reported a better-than-expected quarterly revenue and profit, driven by strength in its digital media business, which houses its flagship product Creative Cloud” writes Mark Neuling for cnbc.com. Revenue from Adobe’s digital media business rose 29.2 percent to $1.39 billion, beating analysts’ estimate of $1.35 billion, according to financial data and analytics firm FactSet. Total revenue rose 25 percent to $2.01 billion, beating estimates of $1.95 billion. Source: cnbc.com Share This:

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Adobe beats revenue, profit estimates

“(Reuters) – Photoshop maker Adobe Systems Inc (ADBE.O) on Thursday reported a better-than-expected quarterly revenue and profit, driven by strength in its digital media business, which houses its flagship product Creative Cloud” writes Min Read for reuters.com. Total revenue rose 25 percent to $2.01 billion, beating estimates of $1.95 billion.Adobe said on Thursday it expected an adjusted profit of $1.27 per share and revenue of $2.04 billion for the first quarter.Shares of the company, which also forecast first-quarter profit above estimates, were up 1.7 percent at $178 in extended trading. Source:…

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These companies will take a huge profit hit from lower tax rates

“The financial impact of the federal tax rate reduction will be lessened if a company has already taken a valuation allowance, and a profit hit, from adjusting its deferred tax assets” writes Francine Mckenna for marketwatch.com. The table in the story has been corrected to reflect the net change in the deferred tax assets.Companies make valuation allowances when the tax benefit from a portion of the deferred tax asset balance is “more likely than not” not going be realized.In conjunction with research firm Audit Analytics, MarketWatch analyzed data regarding companies’…

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Nucor’s stock drops after downbeat profit outlook

“NUE, -0.16% dropped 2.4% in premarket trade Thursday, after the steelmaker provided a downbeat profit outlook for the fourth quarter, citing the continued negative impacts of imports” writes Reporter Editor for marketwatch.com. The company said it expects earnings per share of 50 cents to 55 cents, excluding impacts of federal tax legislation. The stock has tacked on 3.9% year to date through Wednesday, while the SPDR Materials Select Sector ETF XLB, +0.27% has climbed 20% and the S&P 500 SPX, -0.05% has gained 19%. Source: marketwatch.com Share This:

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Harry Potter publisher Scholastic profit, sales fall from a year ago

“The company affirmed its fiscal 2018 revenue outlook of $1.65 billion to $1.780 billion and ongoing EPS outlook of $1.20 to $1.30” writes Reporter Editor for marketwatch.com. Revenue declined to $598.3 million from $623.1 million, below the analyst’s estimate of $601.4 million.Excluding non-recurring items, adjusted earnings per share came to $1.92, which compares with the estimate of one analyst surveyed by FactSet of $1.75 a share. Source: marketwatch.com Share This:

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Capita sees 2017 in line; bids won’t add to profit

“Capita PLC (CPI.LN) said Thursday that its performance in 2017 has been in line with its expectations and that it anticipates underlying pretax profit to rise modestly in the second half” writes Adria Calatayud for marketwatch.com. Underlying performance across all Capita’s divisions met expectations, despite challenging market conditions, the company added.The value of Capita’s bid pipeline is currently GBP2.5 billion, but these bids are unlikely to be profit accretive in 2018 if successful, the company said.The company said its restructuring program is expected to have a cumulative benefit of GBP57…

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Profit rises for Spain’s Inditex on sales growth

“Spain’s Inditex SA (ITX.MC) said Wednesday that its nine-month net profit rose 6.2%, driven by sales growth nearing 10%” writes Alberto Delclaux for marketwatch.com. Net profit for February to October totaled 2.34 billion euros ($2.75 billion) compared with EUR2.21 billion in the equivalent period a year earlier, while sales increased 9.5% to EUR17.96 billion.This means that the company opened 99 stores in the third quarter–including its first ones in Belarus–missing Deutsche Bank analysts’ expectations of 131 net openings. Source: marketwatch.com Share This:

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Berkeley shares soar 9pc after the housebuilder ups profit guidance

“Shares in Berkeley Group soared more than 9pc this morning after the London-focused housebuilder upped its long-term profit guidance, despite warnings its financial performance would peak this year” writes Garry White for telegraph.co.uk. The firm expects to generate £1.5bn of profits in the two years to April 2019, with 60pc of that coming this year.The FTSE 100 firm said it expects to generate £3.3bn in pre-tax profits between 2016 and 2021, up from previous estimates of £3bn. Source: telegraph.co.uk Share This:

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Toll Brothers profit, revenue jump on higher demand

“U.S. luxury homebuilder Toll Brothers on Tuesday reported a rise in quarterly profit and revenue, boosted by higher demand for its homes” reports foxbusiness.com. Orders, a key metric of future revenue for homebuilders, rose 14.5 percent to 1,979 homes in the fourth quarter.Homebuilders have reported largely positive quarterly results and remained upbeat on the housing market even as the recent hurricanes weighed on some operations.A robust labor market has supported demand for housing in the United States. Source: foxbusiness.com Share This:

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US airlines to scoop almost half of global profit in 2018

“The International Air Transport Association (IATA) made the claim in its latest forecast of the global airline industry, published Tuesday” writes unknown author for cnbc.com. The bulk of the profit generated next year will come from North America where, according to IATA, airlines in the region are forecast to record a combined net profit of $16.4 billion.IATA has estimated 2018 airline capacity growth to be 3.4 percent for North America, just shy of the region’s forecast traffic growth of 3.5 percent.North American airlines are once again primed to record the…

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