Adobe Sees 3Q Revenue at $4.43 Billion, Up From Year Ago

By Denny Jacob

Adobe Inc. issued guidance for the third quarter and fiscal 2022 that it said factored in the impact of the war in Ukraine and an incremental foreign exchange headwind of $175 million across the third quarter and fourth quarter, among others.

The software maker said it expects $4.43 billion in revenue and adjusted earnings of $3.33 a share for the third quarter. Analysts polled by FactSet expected $4.51 billion in revenue and adjusted earnings of $3.39 a share.

Adobe posted revenue of $3.94 billion in its third quarter of fiscal year 2021, which the company said at the time was a record.

For fiscal 2022, Adobe guided for $17.65 billion in revenue and adjusted earnings of $13.50 a share. Analysts polled by FactSet expected $17.85 billion in revenue and adjusted earnings of $13.65 a share.

Chief Executive Shantanu Narayen said in prepared remarks that Adobe is seeing momentum in new categories ranging from content authoring for creators to PDF functiionality on the web.

Write to Denny Jacob at [e-mail]

(END) Dow Jones Newswires

June 16, 2022 16:42 ET (20:42 GMT)

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