Categories AlphaGraphs, Earnings, Technology

Infographic: Key highlights of Adobe (ADBE) Q2 2020 earnings

Adobe Inc. (NASDAQ: ADBE) reported a 74% jump in earnings for the second quarter of 2020 driven by higher revenue. This came in the midst of the COVID-19 pandemic crisis.

Adobe (ADBE) Q2 2020 earnings

Adobe announced that given the macroeconomic environment, it significantly accelerated in Q2 its previously stated strategy of eliminating low-margin Advertising Cloud transaction-driven offerings. The company will continue to offer its Advertising Cloud software solutions. The macroeconomic environment and this strategic shift impacted Advertising Cloud targeted revenue in Q2 by about $50 million.

Looking ahead into the third quarter, the company expects total revenue of about $3.15 billion, GAAP EPS of about $1.78, and non-GAAP EPS of about $2.40. Digital Media segment revenue is predicted to grow about 16% year-over-year while Digital Experience segment revenue is projected to remain flat year-over-year.

Related: $1,000 invested in ADBE in 2010 would be worth $14,600 today

The outlook is factoring current macroeconomic conditions, continued impacts of the pandemic, typical Q3 summer seasonality, and its updated strategy for Advertising Cloud. In light of the macroeconomic environment and the strategic shifts for Advertising Cloud, Adobe is withdrawing the annual fiscal 2020 targets provided in December 2019.

Take a look at our Technology articles here

Most Popular

IPO News: Monte Rosa Therapeutics will go public this week, here are a few things to know

Biotechnology company Monte Rosa Therapeutics is slated to go public this week. In a pandemic-ridden world, this industry is expanding at a healthy pace. The global biotechnology market is estimated

IPO News: What to look for when Elevation Oncology makes its Wall Street debut

The healthcare sector is going through a phase of consolidation, creating fresh opportunities for emerging companies in a market that is slowly recovering from the pandemic. Several pharmaceuticals firms have

American Airlines (AAL): Here’s what may or may not work for this airline stock

Shares of American Airlines Group (NASDAQ: AAL) have gained 42% since the beginning of this year and 50% over the past 12 months. Despite this, there is a mixed sentiment

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top