Adobe Systems (ADBE) Tops Q2 EPS by 12c, Offers Guidance

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Go back to Adobe Systems (ADBE) Tops Q2 EPS by 12c, Offers Guidance

Wall Street analysts encouraged by Adobe Systems (ADBE) Q2 earnings

June 16, 2023 7:32 AM EDT

Adobe Systems (NASDAQ: ADBE) reported positive second-quarter earnings after the close on Thursday, topping analyst consensus expectations.

The software firm reported Q2 EPS of $3.91, $0.12 better than the analyst estimate of $3.79, while revenue for the quarter came in at $4.82 billion versus the consensus estimate of $4.77 billion.

Here's how Wall Street analysts reacted to the report:

Wells Fargo's Michael Turrin raised the firm's price target on the stock to $600 from $525, maintaining an Overweight rating.

"ADBE's Q2 results are likely to keep the recent momentum going, as the company... More