Design software company Adobe Inc. (NASDAQ: ADBE) is all set to report second-quarter 2024 earnings today after the closing bell. The company is currently busy integrating artificial intelligence across its platform.
Listen to Adobe’s Q2 2024 earnings call live and read the real-time transcript
Analysts’ consensus forecast for Q2 adjusted profit is $4.09 per share, compared to $3.91 per share in the three months ended May 2023. Meanwhile, Adobe executives are looking for Q2 earnings in the range of $4.35 per share to $4.40 per share. Wall Street forecasts second-quarter revenues of $4.93 billion. That falls below the management’s revenue guidance of $5.25-$5.30 billion.
In the first three months of fiscal 2024, the San Jose-based tech firm’s earnings and revenues exceeded the market’s forecast. The top line moved up 11% from the prior-year period to $5.18 billion in Q1. Consequently, adjusted earnings advanced 18% to $4.48 per share. On a reported basis, net income jumped 50% year-over-year to $620 million or $1.36 per share.