Adobe 2Q Earnings, Revenue Beats Expectations
17 June 2022 - 6:52AM
Dow Jones News
By Denny Jacob
Adobe Inc. reported better-than-expected net income and revenue
in the second quarter, the latest software company to post strong
results against a backdrop of economic uncertainty that has hit
technology companies in particular.
The software maker logged $1.18 billion in net income, or $2.49
a share, for the three months ended June 3, compared with $1.12
billion in net income, or $2.32 a share, a year earlier. Adjusted
earnings were $3.35 a share. Analysts polled by FactSet expected
$3.31 a share.
Revenue rose to $4.39 billion from $3.84 billion. Analysts
polled by FactSet expected $4.34 billion.
Remaining performance obligations, a measure of future business
that represents contracted revenue that hasn't been recognized,
stood at $13.82 billion at the end of the quarter.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
June 16, 2022 16:37 ET (20:37 GMT)
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