FMP
Adobe Shares Surge 15% on Q2 Beat & Strong Outlook
Jun 14, 2024 2:21 PM - Davit Kirakosyan
Image credit: FMP
Adobe Systems (NASDAQ:ADBE) exceeded expectations in its second-quarter results and provided optimistic earnings guidance despite a challenging environment for enterprise software. As a result, Adobe’s shares surged over 15% in pre-market today.
Adobe reported Q2 adjusted earnings of $4.48 per share on revenue of $5.31 billion. Analysts had expected earnings of $4.39 per share on revenue of $5.29 billion.
Looking ahead to Q3, Adobe anticipates adjusted earnings per share to range between $4.50 and $4.55, surpassing Wall Street's estimate of $4.48. However, the projected revenue of $5.33 billion to $5.38 billion falls slightly below the expected $5.4 billion.
For the full year, Adobe forecasts earnings per share between $18.00 and $18.20, with revenue expected to be between $21.40 billion and $21.50 billion.
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