Adobe reported second quarter earnings that were higher than what analysts’ expected. Revenue, too, topped analysts’ estimates.
The software company’s adjusted earnings during the quarter ended June 3 came in at $3.35 per share, compared to the $3.31 per share expected by analysts, according to Refinitiv.
Revenue rose +14% from the year-ago quarter to $4.39 billion ,also exceeding analysts’ expectations of $4.34 billion.
Revenue from Adobe's Digital Media segment (which includes Creative Cloud and Document Cloud products) grew 15% to $3.20 billion, higher than the StreetAccount consensus estimate of $3.16 billion.
The Digital Experience business revenue rose +17% to $1.10 billion, above the $1.08 billion StreetAccount consensus.
For the full fiscal year, Adobe lowered its forecast to $13.50 in adjusted earnings per share (vs. December guidance of $13.70 ). Its revenue guidance is now $17.65 billion (vs. December guidance of $17.90 billion).
The company mentioned that the war in Ukraine posed a $175 million foreign-exchange headwind.