Shantanu Narayen, CEO of Adobe is being interviewed by Jim Cramer
Linda Dimyan | CNBC
Adobe shares jumped 16% in extended trading on Thursday after the design software maker reported earnings and revenue that beat estimates.
Here’s how the company did compared to the LSEG consensus:
- Earnings per share: $4.48 adjusted, versus $4.39 expected
- Revenue: $5.31 billion vs. $5.29 billion expected
Adobe’s revenue grew 10% year-over-year in the quarter ended May 31, according to a report. declare.
The company called for adjusted earnings per share of $4.50 to $4.55 for the fiscal third quarter, on revenue of $5.33 billion to $5.38 billion. Analysts polled by LSEG were looking for adjusted earnings per share of $4.48 and revenue of $5.4 billion.
Adobe boosted its full-year view, calling for full-year adjusted earnings per share between $18.00 and $18.20 and revenue between $21.40 billion and $21.50 billion. USD. Analysts surveyed by LSEG had forecast adjusted earnings of $18.02 per share and revenue of $21.46 billion. Forecast March Adjusted earnings per share were between $17.60 and $18.00, with revenue between $21.30 billion and $21.50 billion.
In recent weeks, software partners SentinelOne, UiPath, Veeva have reduced their full-year revenue forecasts, citing economic weakness and business interest in developing artificial intelligence.
During the quarter, Adobe announced the availability of a service that refines the company’s Firefly creative artificial intelligence models to deliver visual content that aligns with the client’s brand guidelines.
Before Adobe made Thursday’s announcement, shares were down 23% this year, while the S&P 500 index was up about 14%.
Executives will discuss the results with analysts in a conference call starting at 5 p.m. ET.
This is breaking news. Please check back for updates.
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