Is Adobe Stock a Buy Now?
Adobe's (NASDAQ: ADBE) stock price dipped 5% during after-hours trading on June 16 following the release of its second-quarter earnings report. The cloud-based software company's revenue rose 14% year over year (15% in constant currency terms) to $4.39 billion, which beat analysts' expectations by $40 million. Its adjusted net income grew 9% to $1.59 billion, or $3.35 per share, which cleared analysts' estimates by four cents.
However, Adobe followed up that earnings beat with bleak guidance for the rest of the year. For the third quarter, it expects its revenue and adjusted EPS to grow 12% and 7% year over year, respectively, compared to the consensus forecast for a 14% increase in revenue and 9% EPS growth.
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Source Fool.com
