Creative software giant Adobe (NASDAQ:ADBE) will be reporting earnings this Thursday after the bell. Here's what to expect.
Adobe beat analysts' revenue expectations last quarter, reporting revenues of $6.62 billion, up 12.7% year on year. It was a very strong quarter for the company, with a solid beat of analysts' billings estimates and EPS guidance for next quarter exceeding analysts' expectations.
Is Adobe a buy or sell going into earnings? Read our full analysis here, it's free for active Edge members.
This quarter, the market is expecting Adobe's revenue to grow 11.8% year on year, improving from the 10.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Adobe has a history of exceeding Wall Street's expectations.
With Adobe being the first among its peers to report earnings this season, we don't have anywhere else to look to get a hint at how this quarter will unfold for vertical software stocks. However, investors in the segment have had fairly steady hands going into earnings, with share prices down 1.5% on average over the last month. Adobe is down 6.1% during the same time .
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