Adobe Stock Volatile Following Q3 Earnings Results
Portfolio Pulse from Ryan Gustafson
Adobe Inc. reported Q3 earnings of $4.09 per share, beating the analyst consensus estimate of $3.98, and marking a 20.29% increase from the same period last year. The company also reported quarterly sales of $4.89 billion, beating the analyst consensus estimate of $4.87 billion. Adobe issued Q4 earnings per share guidance in a range between $4.10 and $4.15, versus the $4.06 estimate. Total revenue is anticipated to be between $4.975 billion and $5.025 billion, versus the $5 billion estimate.
September 14, 2023 | 8:23 pm
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Adobe's Q3 earnings and sales beat estimates and the company issued Q4 guidance above estimates. However, the stock was down 0.17% in after-hours trading.
Despite beating Q3 estimates and issuing strong Q4 guidance, Adobe's stock was down in after-hours trading. This could be due to investors taking profits after the earnings beat or concerns about future growth.
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