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published in Blogs
Sep 16, 2022
Adobe (ADBE, $309.13) beats fiscal Q3 earnings expectations

Adobe (ADBE, $309.13) beats fiscal Q3 earnings expectations

Adobe Inc. posted its third-quarter fiscal 2022 non-GAAP earnings came in at $3.40 per share, beating the Zacks Consensus Estimate by 2.1%. The figure improved 9.3% from the year-ago quarter.

Revenues grew +13% from the year-ago quarter to $4.433 billion, which topped the Zacks Consensus Estimate of $4.430 billion.

Subscription revenues increased +12.9% o year-over-year to $4.13 billion (~ 93% of the total revenues)

Product revenues rose   +5.9% year over year to $126 million (3% of the total revenues), while Services & support revenues climbed +12.6% from the prior-year quarter to $179 million (4% of the total revenues).

For fourth-quarter fiscal 2022, Adobe projects  revenues of $4.52 billion, compared to The Zacks Consensus Estimate for revenues at $4.53 billion.

Adobe expects year-over-year revenue growth of 10% from Digital Media.

Related Tickers: ADBE