Business

The trading day on Friday 17 June 2022

Adobe presented better-than-expected second-quarter data, but did not meet market expectations with its forecasts. The software company reported net income of $ 1.18 billion from $ 1.12 billion, or $ 2.49 from $ 2.32 per share as of June 3. On an adjusted basis, the company earned $ 3.35 per share, up from the $ 3.31 expected by analysts. At the same time, the company reported revenue of $ 4.39 billion, while consensus analysts had expected revenue of $ 4.34 billion.

Adobe expects the effects of the war in Ukraine and an additional $ 175 million currency effect in the third and fourth quarters. For the third quarter, the company expects revenue of $ 4.43 billion and adjusted earnings per share of $ 3.33. Analysts had expected earnings of $ 4.51 billion with adjusted earnings per share of $ 3.39. For the full year, Adobe announced sales of $ 17.65 billion and adjusted earnings of $ 13.50 per note – analysts were hoping for $ 17.85 billion and $ 13.65, respectively, but more. In US stock trading after hours, the stock lost 4.2% due to the below market outlook.

Adobe 331.20

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