Why Did Adobe Drop 5% After Earnings Release?
17 Juni 2022 - 07:42AM
TipRanks
Adobe (NASDAQ: ADBE) reported stronger-than-expected second-quarter
Fiscal 2022 results, exceeding both earnings and revenue
expectations. Notably, the results also surpassed the company’s
guidance. Adobe, however, provided tepid third-quarter and
full-year guidance. Following the update, shares of
the provider of digital marketing and media
solutions declined by almost 5% in the extended trading
session on Thursday. Results in Detail Adobe reported
adjusted earnings of $3.35 per share, topping the consensus
estimate of $3.31. The company recorded adjusted earnings of $3.03
per share in the same quarter last year. Adjusted net income came
in at $1.59 billion, up 9% year-over-year. Record total
revenue of $4.
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