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Adobe (ADBE) earnings Q2 2022


Shantanu Narayen, chairman and chief executive officer of Adobe Systems Inc., during a telecast of the SoftBank World event in Tokyo arranged in Kawasaki, Kanagawa Prefecture, Japan, on Thursday, Oct. 29, 2020. SoftBank World, the corporate’s annual two-day event for purchasers and suppliers, ends Friday.

Akio Kon | Bloomberg | Getty Images

Adobe shares fell as much as 5% in prolonged trading on Thursday after the design software maker gave full-year guidance that fell wanting analysts’ expectations.

Here’s how the corporate did:

  • Earnings: $3.35 per share, adjusted, vs. $3.31 per share as expected by analysts, based on Refinitiv.
  • Revenue: $4.39 billion, vs. $4.34 billion as expected by analysts, based on Refinitiv.

For the complete fiscal yr, Adobe reduced its guidance. It called for $13.50 in adjusted earnings per share on $17.65 billion in revenue. Analysts polled by Refinitiv had expected $13.66 in adjusted EPS and revenue of $17.85 billion. In December the guidance for the 2022 fiscal yr was $13.70 in adjusted earnings per share and $17.90 billion in revenue.

The corporate pointed to the war in Ukraine, a $175 million foreign-exchange headwind, and summer seasonality. Microsoft and Salesforce also cited currency impact once they issued worse-than-expected projections in recent weeks.

In the course of the quarter ended June 3, the corporate’s revenue grew 14% yr over yr, based on a statement. Adobe’s net income within the fiscal second quarter, at $1.18 billion, was up about 6%.

Adobe’s Digital Media segment, which incorporates Creative Cloud and Document Cloud products, reported $3.20 billion in revenue, up 15% and greater than the StreetAccount consensus estimate of $3.16 billion.

The Digital Experience business, which incorporates Adobe’s Experience Cloud that corporations use for marketing and commerce, contributed $1.10 billion, up 17% and above the $1.08 billion StreetAccount consensus.

In the course of the quarter Adobe announced price hikes for certain Creative Cloud subscriptions, citing the launch of recent applications, and said a version of its Experience Cloud for health-care customers was available.

Adobe shares are down about 36% for the reason that start of the yr, while the S&P 500 index is down 23% over the identical period.

Executives will discuss the outcomes with analysts on a conference call starting at 5 p.m. ET.

That is breaking news. Please check back here for updates.

WATCH: Adobe CEO says e-commerce categories including electronics are seeing price declines

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