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Adobe Surpasses Q2 Earnings Expectations with EPS $4.48, Revenue $5.31B; Shares Up 12%, Raises FY24 Guidance

Jun 13, 2024, 08:08 PM

Adobe Inc. reported its second-quarter earnings for 2024, surpassing Wall Street expectations. The company announced an adjusted earnings per share (EPS) of $4.48, exceeding the estimated $4.39 and up 12.3% YoY, and a revenue of $5.31 billion, above the forecasted $5.29 billion and up 9.8% YoY. Following the earnings report, Adobe's shares increased by 12% in after-hours trading. The company also raised its full-year guidance, projecting fiscal year 2024 revenue between $21.40 billion and $21.50 billion, and adjusted EPS between $18.00 and $18.20. Adobe's Q3 guidance includes an adjusted EPS range of $4.50 to $4.55. The company's market cap stands at $205.39 billion.