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.