money Adobe shares rise on Q2 earnings
Adobe shares traded higher after the software company reported second quarter results that topped Wall Street's estimates. Yahoo Finance Live's Brad Smith breaks down the report.
Video Transcript
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BRAD SMITH: Shares of Adobe trading higher in after-hours trading by nearly 4% here as the company just reported earnings here. Taking a look at some of the figures that the company has announced for its fiscal second quarter of 2023, achieved revenue of $4.82 billion, and then EPS on adjusted basis came in at $3.91 a share. Looking into some of the quick takeaways here, at least on the digital media and Creative Cloud side here, Creative Cloud being a part of their digital media segment, they beat on both of those expectations essentially.
That is basically the largest part of the business, the digital media part of the business. And so that came in at $3.51 billion. The Street was looking for about $3.46, $3.47 if you want to round it off that way, billion here that represents about 10% year-over-year growth.
- And they beat the whisper number too, because the whisper number was 3.83 a share for EPS. So they beat that as well. So certainly, you're seeing them be rewarded a little bit in after-hours trade. So we'll put a pin in that and keep watching Adobe, see how it performs after hours and even into tomorrow.
