Adobe (NASDAQ:ADBE) reported its latest quarterly earnings figures late today, bringing in earnings and revenue that were stronger than what analysts called for in the Wall Street consensus estimate, helping to lift ADBE stock more than 2% after hours today.
The San Jose, Calif.-based business unveiled adjusted earnings of $1.83 per share when excluding certain items, which is stronger than the $1.78 per share that the Wall Street consensus estimate called for, according to data compiled by Refinitiv. Its revenue increased about 25% when compared to the year-ago quarter, tallying in at $2.74 billion.
The figure was stronger than the $2.71 billion that analysts called for, according to data compiled by Refinitiv. The company’s Digital Media segment, which includes both the Creative Cloud and Document Cloud products, tallied up $1.89 billion in revenue, surging 22% year-over-year, while also coming in ahead the $1.86 billion Wall Street consensus estimate that analysts polled by FactSet predicted.
Its Digital Experience segment, which includes Magento and Marketo, tallied up revenue of $783.5 million, ahead of the FactSet guidance of $777.2 million. Adobe’s Publishing segment brought in $70.6 million in revenue, better than the $66.1 million consensus estimate.
For its third quarter, the business is slated to bring in earnings of $1.95 per share on an adjusted basis, as well as $2.80 billion in revenue. Analysts polled by Refinitiv are calling for earnings of $2.05 per share on an adjusted basis, as well as $2.83 billion in sales.
ADBE stock is up about 2.7% after the bell on Tuesday following the company’s quarterly earnings results. Shares had been gaining 0.4% during regular trading hours.