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Adobe lifts annual outlook on earnings after Q2 results top estimates

AuthorYasin Ebrahim
Published 06/15/2023, 04:37 PM
© Reuters
ADBE
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Investing.com -- Adobe lifted its annual earnings outlook Thursday after reporting fiscal second-quarter results that beat Wall Street estimates.

Adobe Systems Incorporated (NASDAQ:ADBE) shares gained 3% in after-hours trade following the report.

The software maker reported adjusted EPS of $3.91 on revenue of $4.82 billion. Analysts polled by Investing.com anticipated EPS of $3.79 on revenue of $4.77B.

Adobe's digital media business, which generate the bulk of its growth, saw revenue rise 10%, to $3.51B. Creative revenue grew 9%, to $2.85B, while document cloud revenue was $659M, up 11% on the prior-year period.

Looking ahead, the company now forecasts adjusted EPS in a range of $15.65 to $15.75, up from a prior forecast of $15.30 to $15.60, on revenue in a range of $19.25B to $19.35B. 

Third-quarter adjusted EPS was guided in range of $3.95 to $4.00, while revenue was forecast in a range of $4.83B to $4.87B. That compared with analyst estimates for EPS of $3.89 on revenue of $4.86B.

Latest comments

you need to get some new analysts contacts because you current consensus is pathetic literally have the worst predicting ability in any profession in the world, a 5yr old probably could guess better than them
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