Adobe Systems Shares Down 4% on Guidance Miss
2022.06.17 00:07
Adobe Systems (ADBE) Shares Down 4% on Guidance Miss
Adobe Systems (NASDAQ:ADBE) shares lost more than 4% after-hours Thursday following the company’s second quarter earnings. While both EPS of $3.35 and revenue of $4.39 billion (up 14% year-over-year) beat the consensus estimates of $3.31 and $4.34 billion, respectively, the company’s outlook came in worse than expected.
Digital Media segment revenue grew 15% year-over-year to $3.20 billion, Creative revenue grew 12% year-over-year to $2.61 billion, and Document Cloud revenue grew 27% year-over-year to $595 million. Digital Experience segment revenue grew 17% year-over-year to $1.10 billion. The company posted greater than $2 billion in operating cash flows in the quarter.
“Adobe achieved record Q2 revenue with strong demand across Creative Cloud, Document Cloud and Experience Cloud,” said Shantanu Narayen, chairman and CEO, Adobe. “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.”
The company expects Q3/22 EPS of $3.33, below the consensus estimate of $3.40, and revenue of $4.43 billion, below the consensus estimate of $4.51 billion.
For the full 2022 year, the company expects EPS of $13.50, compared to the consensus of $13.66, and revenue of $17.65 billion, compared to the consensus of $17.85 billion.
By Davit Kirakosyan
