Adobe Systems Incorporated (NASDAQ:ADBE) posted second-quarter earnings for fiscal year 2015 after market close on June 16th. The San Jose, California company reported adjusted earnings per share (EPS) of $0.48 on revenue of $1.16 billion, beating the analyst estimate of EPS of $0.45 on revenue of $1.16 billion. During the same time last year, the company posted adjusted earnings per share of $0.37 on revenue of $1.07 billion.

The stock saw action in after-market trading following its Q2 report. The company’s shares, although up 18% over the past 12 months, fell nearly 1.2% to $79.30 after the news came out.

The steep decline in product sales is most troubling to some investors. The company did not report how many subscribers it had at the end of the quarter or even the amount of subscribers that were added. These numbers can be used to measure the health of the company.

Nevertheless, the company beat expectations and reported higher revenue. Adobe CFO Mark Garrett stated, “Strong execution against our Creative Cloud, Document Cloud and Marketing Cloud business drove record revenue.”

As a way to pass on some of the cash to shareholders, Adobe decided to purchase about 2.6 million shares in the first quarter. As the company does not pay dividends, they were able to return about $200 million in cash to shareholders.

Adobe’s second quarter media recurring revenue rose to $2.35 billion and added 639,000 relative cloud subscribers in the latest period. The company raised its digital media revenue target for the year to approximately $2.93 billion, but cut the revenue projection, referring to the negative impact of currency fluctuations. The company now aims to achieve $4.85 billion in revenue, down from $4.93 billion.

Analyst Brad Zelnick of Jefferies reiterated a Buy rating on Adobe with a $90 price target on June 17th, noting “the company exceeded expectations on Creative Units and more importantly, ARR. After FX adjustments, FY15 guidance remains intact with FY15 ARR increasing slightly. Our thesis stands firm though bears may nitpick a slightl more back-end loaded 2H and sub mix that increasingly favors point products.”

Brad Zeknick has rated Adobe a total of 4 times with a 75% success rate recommending the stock and a +32.6% average return per recommendation. Overall, he has a 67% rate on recommending stocks and a +23.3% average return per recommendation.

Analyst Brendan Barnicle at KeyBanc also reiterated a Buy rating on Adobe on June 17th. Barnicle stated, “after disappointing new subscriber additions in FQ1, Adobe reported 639,000 new subscribers in FQ2, much better than the expectation of 575,000. More importantly, annual recurring revenue (ARR) was $2.02 billion, better than the expectation of $2 billion, and company raised APR guidance.”

Barnicle has rated the stock 10 times earning an 83% success rate and +21.2% per recommendation. Overall, Barnicle has a 71% success rate recommending stocks and a +16.2% on average return per recommendation.

On the other hand, analyst Samad Samana at RBC Capital and FBR & Co. reiterated a Hold rating on June 17th, taking a more conservative stance while citing the “rich share price.”

Samana has rated the stock a total of 6 times, always recommending a Hold.  He has a 25% success rate on his overall stock recommendations with an average loss of -5/1% per recommendation.