Here Is What To Expect
Creative software giant Adobe (NASDAQ:ADBE) will be reporting earnings this Thursday afternoon. Here’s what you need to know.
Adobe beat analysts’ revenue expectations last quarter, reporting revenues of $6.19 billion, up 10.5% year on year. It was a strong quarter for the company, with EPS guidance for next quarter beating analysts’ expectations and a solid beat of analysts’ billings estimates.
Is Adobe a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Adobe’s revenue to grow 9.9% year on year, in line with the 10.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Adobe has a history of exceeding Wall Street’s expectations.
With Adobe being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for vertical software stocks. However, investors in the segment have had steady hands going into earnings, with share prices flat over the last month. Adobe is up 3.2% during the same time .
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