Adobe shares soar 17% on better-than-expected results
How did Adobe's performance and outlook compare to its software peers like SentinelOne, UiPath, and Veeva in terms of full-year revenue guidance?
Adobe's performance and outlook surpassed its software peers like SentinelOne, UiPath, and Veeva in terms of full-year revenue guidance. While Adobe raised its full-year revenue guidance, SentinelOne, UiPath, and Veeva reduced their full-year revenue guidance citing economic weakness and corporate interest in artificial intelligence development. Adobe's CEO Shantanu Narayen mentioned that there were no significant changes to the economy that were worth calling out, highlighting the company's confidence in its performance.
What were Adobe's earnings per share and revenue in the latest quarterly report, and how did these figures compare to analysts' expectations?
Adobe's latest quarterly report showed an earnings per share of $4.48 and revenue of $5.31 billion. These figures surpassed analysts' expectations, as they had anticipated an earnings per share of $4.39 and revenue of $5.29 billion.
By what percentage did Adobe's shares increase in extended trading following the earnings announcement?
Adobe's shares increased by 17% in extended trading following the earnings announcement2. The company reported earnings and revenue that surpassed expectations and raised its full-year guidance, which contributed to the boost in its share price.