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• The company reduced the adjusted earnings per share to $13.50 and revenue to $17.65
Adobe Inc (NASDAQ: ADBE) reduced its full-year guidance on Thursday, lower than Wall Street expectations.
For the full fiscal year, Adobe reduced the adjusted earnings per share to $13.50 and revenue to $17.65, compared to $13.70 in adjusted earnings per share and $17.90 billion in revenue, as predicted in December.
This was lower than analysts’ expectations of $13.66 in adjusted EPS and revenue of $17.85 billion, according to Refinitiv.
Shares of the company fell as much as 5% in extended trading.
Quarterly performance
In the second quarter of the fiscal year 2022, Adobe’s revenue grew 14% year over year while its net income was up about 6% at $1.18 billion.
The Digital Media segment of the company, which includes Creative Cloud and Document Cloud products, generated $3.20 billion in revenue, beating estimates of $3.16 billion.
The Digital Experience business, which includes Adobe’s Experience Cloud that companies use for marketing and commerce, generated $1.10 billion in revenue.
Picture Credits: Getty Images
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