Adobe Systems Incorporated (ADBE), a global diversified software company yesterday reported their fiscal second quarter 2017 financial results. The company reported second quarter earnings of $374.4 million.

ADBE reported second quarter adjusted earnings of $1.02 per share which beat analyst expectations of $0.94 per share. Adobe reported second quarter revenues of $1.77 billion which beat analyst expectations of $1.73 billion.

Adobe Systems Incorporated CEO and CFO  Comments

“Digital transformation continues to be the burning agenda for creative professionals, enterprises, governments and educational institutions,” said Shantanu Narayen, president and CEO, Adobe. “Adobe is the go-to company for creating world-class digital customer journeys from design to delivery to measurement and monetization.”

“Adobe continues to execute well, with another quarter of record revenue and operating profit in Q2,” said Mark Garrett, executive vice president and CFO, Adobe. “We’re excited about the strong business momentum we have as we enter the second half of fiscal 2017 and remain confident in our ability to drive strong revenue and earnings growth in the future.”  Business Wire

ADBE Technical Analysis

(Click on image to enlarge)

ADBE opened trading yesterday at $141.21 which was up from the previous day’s trading close of $140.35. ADBE closed trading yesterday at $140.91 and spiked up after market to $146.00, equivalent to a 4% increase from the closing price. Taking a look at the daily chart we can see that with gap up we are now in un-chartered territory as ADBE is now trading at all time highs.

Taking a closer look at the daily chart we can see that before the spike up ADBE had already been in an overall upward trend dating back to December 30th, 2016 when it traded at $102.95. ADBE has a float of 493.07 million shares and traded 1.83 times the normal daily trading volume on Tuesday.