Company news: Adobe (ADBE) quarterly results exceed analysts’ estimates

Adobe (ADBE) reported Q2 FY2024 earnings of $4.48 per share (versus $3.91 per share in Q2 FY2023), beating analysts’ consensus estimate of $4.39 per share.

The company’s quarterly revenues amounted to $5.309 bln (+10.2% y/y), slightly beating analysts’ consensus estimate of $5.291 bln.

The company also issued mixed guidance for Q3 FY2024, seeing EPS of $4.50-4.55 versus analysts’ consensus estimate of $4.47 and revenues of $5.33-5.38 bln versus analysts’ consensus estimate of $5.40 bln.

For the full FY2024, Adobe guided to EPS of $18.00-18.20 versus its prior guidance of $17.60-18.00 and analysts’ consensus estimate of $18.00 and revenues of $21.40-21.50 bln versus its prior guidance of $21.30-21.50 bln and analysts’ consensus estimate of $21.47 bln.

ADBE rose to $525.80 (+14.62%) in pre-market trading.