Adobe latest results are here
20 June 2022Adobe Inc. (ADBE) announced its latest earnings results after the closing bell on Thursday for its second quarter fiscal year 2022 ended June 3.
The American software company reported revenue of $4.386 billion for the quarter (up 14% year-over-year), beating analyst forecast of $4.345 billion.
Earnings per share also reported above analyst expectations at $3.35 per share vs. $3.31 per share estimate.
”Adobe achieved record Q2 revenue with strong demand across Creative Cloud, Document Cloud and Experience Cloud,” Shantanu Narayen, chairman and CEO of Adobe said following the latest financial results.
”We are winning in our established businesses and seeing significant momentum in new categories from content authoring for a broad base of creators to PDF functionality on the web to the leading real-time customer data platform for global enterprises,” Narayen concluded.
”We delivered another quarter of strong financial results, with greater than $2 billion in operating cash flows demonstrating the strength of Adobe’s growing revenue streams and financial discipline,” said Dan Durn, executive vice president and CFO of Adobe.
”Our operating model continues to fuel consistent growth, enabling the company to invest in category-leading cloud solutions and emerging innovations that are gaining traction in the marketplace,” Durn added.
Adobe Inc. (ADBE) chart
Share price of Adobe was down by around 2% at the market open on Friday, trading at $357.37 per share.
Here is how the stock has performed in the past year:
- 1 Month -10.80%
- 3 Month -21.47%
- Year-to-date -37.22%
- 1 Year -37.06%
Adobe price targets
- UBS $415
- Stifel $500
- Baird $450
- Deutsche Bank $500
- Wells Fargo $425
- Mizuho $480
- Citigroup $380
Adobe is the 59th largest company in the world with a market cap of $167.63 billion.
You can trade Adobe Inc. (ADBE) and many other stocks from the NYSE, NASDAQ, HKEX and the ASX with GO Markets as a Share CFD.
Sources: Adobe Inc., TradingView, MarketWatch, Benzinga, CompaniesMarketCap
Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice.
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