Adobe Stock News and Forecast: ADBE earnings beat, but outlook disappoints
Premium|Take advantage of 50% OFF on your first month.
Start your subscription and get access to all our original articles.
You have reached your limit of 5 free articles for this month.
Get Premium without limits for only $9.99 for the first month
Access all our articles, insights, and analysts.
UNLOCK OFFER- Adobe reported first quarter 2022 earnings after the clsoe on Tuesday.
- Adobe beat on top and bottom lines, which saw ADBE stock quickly spike.
- Outlook was less than hoped for, and shares quickly turned lower.
Adobe reported first quarter earnings after the close on Tuesday as earnings season draws to an end. The company produced an initial set of earnings, but the outlook disappointed. ADBE stock initially spiked on the earnings beat, trading up to $470.99, before sharply turning around once the guidance was released.
Adobe Stock News: Forward guidance the key
Adobe reported earnings per share of $3.37, which was just ahead of the $3.34 forecast. Revenue was $4.26 billion, just marginally ahead of forecasts that were set at $4.24 billion. Adobe guided for its second quarter figure to hit $3.30 on earnings per share and revenue to hit $4.34 billion. This was short of analyst estimates for EPS of $3.35 and revenue of $4.4 billion. Adobe said numbers are being impacted by competitive pressures.
- Adobe reported first quarter 2022 earnings after the clsoe on Tuesday.
- Adobe beat on top and bottom lines, which saw ADBE stock quickly spike.
- Outlook was less than hoped for, and shares quickly turned lower.
Adobe reported first quarter earnings after the close on Tuesday as earnings season draws to an end. The company produced an initial set of earnings, but the outlook disappointed. ADBE stock initially spiked on the earnings beat, trading up to $470.99, before sharply turning around once the guidance was released.
Adobe Stock News: Forward guidance the key
Adobe reported earnings per share of $3.37, which was just ahead of the $3.34 forecast. Revenue was $4.26 billion, just marginally ahead of forecasts that were set at $4.24 billion. Adobe guided for its second quarter figure to hit $3.30 on earnings per share and revenue to hit $4.34 billion. This was short of analyst estimates for EPS of $3.35 and revenue of $4.4 billion. Adobe said numbers are being impacted by competitive pressures.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.