Adobe Shares Trade Higher After Record Q2 Sales

Adobe Inc ADBE shares traded higher after reporting record second-quarter revenues.

Second-quarter adjusted earnings came in at $1.83 per share, beating estimates by 5 cents. Sales came in at $2.74 billion, beating estimates by $40 million. The company's third-quarter earnings and sales guidance came in below analyst estimates.

"Adobe's continued momentum is being fueled by the explosion of creativity across the globe and the widespread business transformation agenda to deliver engaging customer experiences," said CEO Shantanu Narayen. "With an innovative technology platform, exciting product roadmap and strong ecosystem of partners, we are well positioned for the second half of FY19 and beyond."

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Highlights

  • Revenues grew 25% year-over-year
  • Digital media segment revenue grew 22% year over year
  • Creative revenue grew to $1.59 billion
  • Document Cloud achieved revenue of $296 million
  • Digital Experience segment grew 34% year over year
  • 2.5 million shares repurchased

Adobe shares traded higher by 1.5% to $281 in Tuesday's after-hours session. The stock closed at $276.78.

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