Shantanu Narayen, CEO of Adobe being interviewed by Jim Cramer
Linda Dimyan | CNBC
Adobe shares jumped 15% in extended trading on Thursday after the design software maker reported earnings and revenue that topped estimates.
Here’s how the company did in comparison with LSEG consensus:
- Earnings per share: $4.48 adjusted, vs. $4.39 expected
- Revenue: $5.31 billion vs. $5.29 billion expected
Adobe’s revenue grew 10% year over year in the quarter, which ended on May 31, according to a statement.
The company called for adjusted earnings per share of $4.50 to $4.55 for the fiscal third quarter, with $5.33 billion to $5.38 billion in revenue. Analysts polled by LSEG were looking for $4.48 in adjusted earnings per share and $5.4 billion in revenue.
Before Adobe issued the statement, shares were down 23% so far this year, while the S&P 500 index was up around 14%.
Executives will discuss the results with analysts on a conference call starting at 5 p.m. ET.
This is breaking news. Please check back for updates.
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