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.