Adobe Inc (NASDAQ:ADBE) shares are trading lower in Thursday's after-hours session after the company announced financial results and issued guidance below analyst estimates.
Adobe said fiscal second-quarter revenue increased 14% year-over-year to $4.39 billion, which beat the estimate of $4.34 billion, according to data from Benzinga Pro. The company said its better-than-expected revenue results were driven by strong demand across Creative Cloud, Document Cloud and Experience Cloud.
Adobe reported quarterly adjusted earnings of $3.35 per share, which beat the estimate of $3.31 per share.
"Our operating model continues to fuel consistent growth, enabling the company to invest in category-leading cloud solutions and emerging innovations that are gaining traction in the marketplace," said Dan Durn, executive VP and CFO of Adobe.
Adobe said it expects fiscal third-quarter revenue to be approximately $4.43 billion versus the estimate of $4.51 billion. The company expects fiscal third-quarter adjusted earnings to be approximately $3.33 per share.
Adobe provides content creation, document management and digital marketing and advertising software and services to creative professionals and marketers.
See Also: 'That Made Me Look Closer': Why This Adobe Investor Was Cautious Ahead Of Q2 Earnings
ADBE Price Action: Adobe shares are making new 52-week lows on Thursday.
The stock was down 3.71% in after hours at $351.52 at press time.
Photo: Hitesh Choudhary from Pixabay.
