Adobe Earnings, Revenue Beat in Q2; Cash Flows Hit Record



© Reuters.

By Yasin Ebrahim

Investing.com – Adobe (NASDAQ:) reported Thursday fiscal second-quarter that beat analysts’ forecasts as strong software demand bolstered cash flows to record.

Adobe shares gained 1.31% in after-hours trade following the report.

Adobe announced earnings per share of $3.03 on revenue of $3.84 billion. Analysts polled by Investing.com anticipated EPS of $2.81 on revenue of $3.73 billion.

The digital media business, which makes up the bulk of growth, saw revenue rise 25%, to $2.79 billion. Creative revenue grew 24%, to $2.32 billion, while document cloud revenue was $469 million, up 30% on the prior-year period.

Digital media annualized recurring revenue increased by increased $518 million quarter-over-quarter to $11.21 billion.

Cash flows from operations were a record $1.99 billion.

The company guided third-quarter revenue of $3.88 billion, above consensus estimates of $3.83 billion. The digital media segment is expected to grow revenue 22% year-on-year.

“The large market opportunity and momentum we are seeing across our creative, document and customer experience management businesses position us well to deliver another record year,” the company said.

Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar

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