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published in Blogs
Jun 18, 2021
Adobe (ADBE, $562.33) beats Q2 earnings expectations

Adobe (ADBE, $562.33) beats Q2 earnings expectations

On Thursday, Adobe Inc. reported second quarter earnings that surpassed analysts’ expectations. Revenue also beat estimates, on the back of cloud software business strength.

The software company’s adjusted earnings came in at $3.03 a share in the quarter, vs. $2.81 a share expected by analysts polled by FactSet.

 Revenue rose to $3.84 billion from $3.13 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast revenue of $3.73 billion.

Revenue from its Digital Media, Creative and DocumentCloud products climbed +25%, +24% and +30% respectively on an year-over-year basis for the quarter.

According to Adobe, it had  a record $1.99 billion in cash flows from operations.

For the third quarter, Adobe expects adjusted earnings of $3 a share, vs. analysts’ forecast of $2.89 a share. The company projects revenue of $3.88 billion for the quarter, while analysts were expecting $3.83 billion.

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