Adobe CEO Shantanu Narayen interviewed by Jim Cramer
Linda Dimyan | CNBC
adobe Shares rose 15% in after-hours trading Thursday after the design software maker reported earnings and revenue that beat estimates.
Here’s how the company compares to the LSEG consensus:
- Earnings per share: Adjusted $4.48, expected $4.39
- income: US$5.31 billion, expected US$5.29 billion
Adobe’s revenue increased 10% year-on-year in the quarter ended May 31 statement.
The company expects third-quarter adjusted earnings per share of $4.50 to $4.55 on revenue of $5.33 billion to $5.38 billion. Analysts surveyed by London Stock Exchange Group (LSEG) expected adjusted earnings of $4.48 per share on revenue of $5.4 billion.
Adobe raised its full-year forecast, expecting full-year adjusted earnings per share to be between $18.00 and $18.20, with revenue between $21.4 billion and $21.5 billion. Analysts polled by LSEG expected adjusted earnings per share of $18.02 on revenue of $21.46 billion. Adjusted earnings per share forecast for March is $17.60 to $18.00, on revenue of $21.3 billion to $21.5 billion.
In recent weeks, software peers SentinelOne, UiPath and Veeva have lowered their full-year revenue forecasts.
Before Adobe’s statement, the company’s shares had fallen 23% this year, while the S&P 500 index had gained about 14%.
Executives will discuss the results with analysts on a conference call starting at 5 p.m. ET.
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