5 Stocks Garnering Attention After Releasing Their Earnings Reports

Page 5 of 5

1. Adobe Inc. (NASDAQ:ADBE)

Number of Hedge Fund Holders: 94

Adobe Inc. (NASDAQ:ADBE) recently announced better-than-expected financial results for its fiscal first quarter. However, its outlook for the current quarter missed expectations, sending its shares down more than 10 percent in the early trading session on Wednesday, March 23, 2022.

The California-based software giant reported adjusted earnings of $3.37 per share, up from $3.14 per share in the year-ago period. Analysts were expecting Adobe Inc. (NASDAQ:ADBE) to earn $3.34 per share.

Follow Adobe Inc. (NASDAQ:ADBE)

Revenue for the quarter rose 9 percent on a year-over-year basis to $4.26 billion, exceeding expectations of $4.24 billion. Adobe Inc. (NASDAQ:ADBE) also released its segment-wise sales performance. Its digital media revenue increased 9 percent to $3.11 billion, while digital experience revenue jumped 13 percent to $1.06 billion in the quarter.

Looking forward, Adobe Inc. (NASDAQ:ADBE) guided for adjusted earnings of about $3.30 per share and revenue of approx. $4.34 billion for its fiscal second quarter. The outlook fell short of analysts’ average estimate of $3.35 per share for earnings and $4.40 billion for revenue.

Speaking on the results, CFO Dan Durn said:

“Adobe’s Q1 results reflect the company’s strong execution and resilience through unprecedented circumstances. Our momentum, product innovation and immense market opportunity position us for success in 2022 and beyond.”

You can also take a peek at 10 Dividend Stocks Warren Buffett is Backing in 2022 and 10 Undervalued Dividend Kings To Buy In 2022.

Page 5 of 5