Is It Too Late to Buy Adobe Stock?

Adobe (NASDAQ: ADBE) posted an impressive earnings report on June 15. For the second quarter of fiscal 2023, which ended on June 2, the cloud software provider's revenue rose 10% year over year (13% in constant currency terms) to $4.82 billion and exceeded analysts' estimates by $50 million. Its adjusted EPS grew 17% to $3.91 and also cleared the consensus forecast by $0.17.

For the full year, Adobe expects its revenue to rise 9.3%-9.9% as its adjusted EPS grows 14.2%-14.9%. Both of those estimates were raised from its prior outlook for 8.5%-9.6% revenue growth and 11.6%-13.8% adjusted EPS growth.

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Source Fool.com