Adobe shares surge 15% for sharpest rally since 2020
How did Adobe's recent earnings and revenue compare to analysts' estimates?
Adobe's recent earnings and revenue surpassed analysts' estimates. The company reported adjusted earnings per share of $4.48, which exceeded the LSEG consensus estimate of $4.39 per share. Additionally, revenue increased 10% from a year earlier to $5.31 billion, surpassing analysts' estimates of $5.29 billion.
What factors did CEO Shantanu Narayen attribute to Adobe's strong performance in the recent quarter?
CEO Shantanu Narayen attributed Adobe's strong performance in the recent quarter to its highly differentiated approach to AI and innovative product delivery. He mentioned that these factors are attracting an expanding universe of customers and providing more value to existing users. Additionally, the record revenue was a result of strong growth across Creative Cloud, Document Cloud, and Experience Cloud, as well as advancements in artificial intelligence6.
What specific financial figures did Adobe report for its adjusted earnings per share and revenue in the most recent quarter?
Adobe reported adjusted earnings per share of $4.48 and revenue of $5.31 billion in the most recent quarter.