Adobe delivers upbeat earnings guidance as Q2 results top estimates

June 13, 2024 4:34 PM EDT - Adobe reported Thursday better-than-expected second-quarter results and upbeat earnings guidance, shrugging off a weaker backdrop for enterprise software.

Adobe Systems Incorporated (NASDAQ: ADBE) shares are trading over 14% higher in afterhours following the news.

For the three months ended May 31, Adobe reported adjusted earnings of $4.48 a share on revenue of $5.31 billion. Analysts polled by anticipated EPS of $4.39 on revenue of $5.29B.

For the third quarter, adjusted EPS was guided in a range of $4.50 to $4.55, beating Wall Street estimates for EPS of $4.48. But revenue is seen between $5.33B to $5.38B, just shy of estimates for $5.4B

For fiscal 2024, the company sees EPS between $18.00 and $18.20 on revenue between $21.40B to $21.50B

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