Digital media and marketing software firm Adobe (ADBE) late Thursday easily beat Wall Street’s estimates for its fiscal second quarter. But it offered mixed guidance for the current quarter. Still, ADBE stock rose in extended trading.
The San Jose, Calif.-based company earned an adjusted $3.91 a share on sales of $4.82 billion in the quarter ended June 2. Analysts polled by FactSet had expected Adobe to earn $3.79 a share on sales of $4.77 billion. In the year-earlier period, Adobe earned an adjusted $3.35 a share on sales of $4.39 billion.
In after-hours trading on the stock market today, ADBE stock advanced 3.2% to 506.50. During the regular session Thursday, ADBE stock rose 2.4% to close at 490.91.
Earnings report details to follow.
ADBE Stock Is A Recent Breakout
On June 9, ADBE stock broke out of a cup base at a buy point of 451.15, according to IBD MarketSmith charts. The move happened after Adobe announced new enterprise applications for its Firefly software for generative artificial intelligence.
Adobe is on the IBD Tech Leaders list. ADBE stock has an IBD Composite Rating of 98 out of 99, according to IBD Stock Checkup.
Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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