Adobe earnings top estimates, Q2 outlook disappoints
03/15/2024 04:01
Adobe (ADBE) reported fiscal first quarter results that topped Wall Street estimates on both the top and bottom lines. The software company reported adjusted earnings per share of $4.48 compared to estimates of $4.38. Revenue of $5.18 billion barely topped the $5.14 billion expectation. Adobe's outlook for the second quarter, however, fell shy of estimates, with the company predicting revenue of $5.25 billion to $5.30 billion, short of the expected $5.31 billion. The company also announced a $25 billion stock buyback program. Yahoo Finance's Julie Hyman and Josh Lipton discuss the breaking details. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Stephanie Mikulich.
Adobe (ADBE) reported fiscal first quarter results that topped Wall Street estimates on both the top and bottom lines. The software company reported adjusted earnings per share of $4.48 compared to estimates of $4.38. Revenue of $5.18 billion barely topped the $5.14 billion expectation.
Adobe's outlook for the second quarter, however, fell shy of estimates, with the company predicting revenue of $5.25 billion to $5.30 billion, short of the expected $5.31 billion.
The company also announced a $25 billion stock buyback program.
Yahoo Finance's Julie Hyman and Josh Lipton discuss the breaking details.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Stephanie Mikulich.