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    ADBE   US00724F1012

ADOBE INC.

(ADBE)
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Adobe's 2Q Profit, Revenue Results Beat Wall Street Expectations

06/17/2021 | 04:30pm EDT

By Maria Armental

Adobe Inc.'s profit and revenue rose in the latest period, driven by the digital acceleration amid the coronavirus pandemic.

Second-quarter profit rose to $1.12 billion from $1.1 billion a year earlier. On a per-share basis, profit rose to $2.32, or $3.03 as adjusted.

Total revenue rose to $3.84 billion from $3.13 billion a year earlier.

Adobe had projected about $2.09 a share, or about $2.81 a share as adjusted, and about $3.72 billion in revenue. Analysts surveyed by FactSet had expected $2.10 a share, or $2.81 a share on an adjusted basis, on $3.73 billion in revenue.

Remaining performance obligations, a measure of future business that represents contracted revenue that hasn't been recognized, reached $12.23 billion exiting the quarter, up 23% from the year earlier.

Adobe has seen strong demand, including for PDF and e-signature service Adobe Sign, driven by the digital growth tied to the pandemic.

"Adobe delivered strong Digital Media annualized recurring revenue and Digital Experience bookings, as well as record cash flows from operations in Q2," John Murphy, executive vice president and finance chief, said in a statement. "The large market opportunity and momentum we are seeing across our creative, document and customer experience management businesses position us well to deliver another record year," he added.

Write to Maria Armental at maria.armental@wsj.com

(END) Dow Jones Newswires

06-17-21 1629ET

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Financials (USD)
Sales 2021 15 670 M - -
Net income 2021 4 582 M - -
Net cash 2021 3 760 M - -
P/E ratio 2021 65,4x
Yield 2021 -
Capitalization 297 B 297 B -
EV / Sales 2021 18,7x
EV / Sales 2022 16,1x
Nbr of Employees 22 516
Free-Float 79,1%
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Technical analysis trends ADOBE INC.
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 29
Last Close Price 623,68 $
Average target price 619,71 $
Spread / Average Target -0,64%
EPS Revisions
Managers and Directors
Shantanu Narayen Chairman, President & Chief Executive Officer
John Francis Murphy Chief Financial Officer & Executive Vice President
Abhay Parasnis Chief Technology & Product Officer
Cynthia A. Stoddard Chief Information Officer & Senior Vice President
John E. Warnock Independent Director
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