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Adobe (ADBE) earnings Q2 2022

admin by admin
June 16, 2022
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Adobe (ADBE) earnings Q2 2022
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Mr. Shantanuna Raien, Chairman and Chief Executive Officer of Adobe Systems, Inc. during the television broadcast of the Softbank World Event in Tokyo on Thursday, October 29, 2020 in Kawasaki City, Kanagawa Prefecture. Daytime events for customers and suppliers end on Friday.

Akio Kon | Bloomberg | Getty Images

Adobe Equities fell by as much as 5% on Thursday’s extended deal after design software makers provided guidance for the whole year that fell short of analysts’ expectations.

The company’s way is as follows.

  • Revenue: According to Refinitiv, analysts expected $ 3.31 per share, compared to adjusted $ 3.35 per share.
  • Revenue: According to Refinitiv, it’s $ 4.39 billion, compared to what analysts expected at $ 4.34 billion.

Throughout the year, Adobe has reduced its guidance. It demanded an adjusted earnings per share of $ 13.50 for revenue of $ 17.65 billion. Analysts surveyed by Refinitiv predicted adjusted EPS of $ 13.66 and revenue of $ 17.85 billion. Guidance for fiscal year 2022 in December was adjusted earnings per share of $ 13.70 and revenue of $ 17.90 billion.

The company pointed out the war in Ukraine, the $ 175 million forex headwind, and the summer seasonality. Microsoft When Salesforce I also quoted the impact of the currency when they issued Prediction worse than expected In the last few weeks. The US dollar has risen against the euro, the Japanese yen and other currencies this year as the Federal Reserve has pushed interest rates up to stop inflation.

In a conference call with analysts, Adobe’s chief financial officer, Dan Daan, said the economic environment was “uncertain” this quarter. He said management was pleased with the company’s success in recruiting, which he called the highly competitive labor market.

During the quarter ended June 3, the company’s revenue increased 14% year-over-year. statement.. Adobe’s second-quarter net income was $ 1.18 billion, an increase of approximately 6%.

Adobe’s digital media segment, including Creative Cloud and Document Cloud products, reported revenue of $ 3.2 billion, up 15%, above Street Account’s consensus estimate of $ 3.16 billion.

Digital experience businesses, including Adobe’s Experience Cloud, which companies use for marketing and commerce, grew 17% to $ 1.10 billion, with Street Account consensus surpassing $ 1.08 billion.

Adobe during the quarter publication Increased prices for certain Creative Cloud subscriptions due to the launch of a new application. David Wadwani, president of the digital media business, said the company did not raise prices significantly because it is focused on adding new users.

Adobe closed the quarter with deferred revenue of $ 4.88 billion, down from $ 5.02 billion three months ago to below the Street Account consensus of $ 500 million. There were over $ 5 billion in cash, cash equivalents, and short-term investments. CEO Shantanu Narayen said Adobe is considering an acquisition target because it doesn’t need to add anything to its portfolio, but prices could be more reasonable than before.

“Alex, I feel there will be a lot of small single product companies that won’t survive what’s happening, and multiple changes in the types of ratings are, in fact, as big as Adobe. I think it’s good for the company. “He said.

Despite off-hours movements, Adobe’s share has declined by about 36% since the beginning of the year, and the S & P 500 Index has declined by 23% over the same period.

This is breaking news. Please come back here to check for updates.

look: Adobe CEO says prices are declining in the e-commerce category, including electronics.

Tags: ADBEAdobeAdobe Inc.Breaking News: EarningsBusiness newsCorporateearningsLatest News: TechnologyMicrosoft CorpRevenueSalesforce Inctechnologywork
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