Adobe (ADBE) Falls on Slight Q1 Beat, Weaker Outlook

Adobe Systems (NASDAQ: ADBE) shares fell about 1% after-hours Tuesday after the company reported its Q1 results, with EPS of $3.37 coming in better than the consensus estimate of $3.34. Revenue grew 9% year-over-year to a record level of $4.26 billion, slightly above the consensus estimate of $4.24 billion.

Digital Media segment revenue grew 9% year-over-year to $3.11 billion, creative revenue grew 7% year-over-year to $2.55 billion, and Document Cloud revenue grew 17% year-over-year to $562 million.

Digital Experience segment revenue grew 13% year-over-year to $1.06 billion, and Digital Experience subscription revenue grew 15% year-over-year to $932 million.

The company provided its Q2/2022 outlook, expecting EPS of $3.30, compared to the consensus of $3.35, and revenue of $4.34 billion, compared to the consensus of $4.41 billion.

By Davit Kirakosyan

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