Adobe beat sales and earnings expectations in Q3, but stock fell due to weak Q4 guidance.

From CNBC: 2024-09-12 18:27:22

Adobe CEO Shantanu Narayen discusses third-quarter results on CNBC. Adobe beat sales and earnings expectations but stock fell 10% on weak fourth-quarter guidance. Revenue was $5.41 billion versus $5.37 billion expected. Earnings per share were $4.65 adjusted versus $4.53 estimated. Adobe expects earnings per share between $4.63 and $4.68 on revenue of $5.5 billion to $5.55 billion in Q4. Net income in Q3 was $1.68 billion. Adobe’s Digital Media business increased 11% to $4 billion in sales. Subscription revenue totaled $5.18 billion, up 11% year over year.



Read more at CNBC:: Adobe stock slips on soft fourth-quarter revenue guidance