Adobe Stock Volatile Following Q3 Earnings Results

Adobe Inc. ADBE shares are volatile in Thursday's after-hours session after the company reported third-quarter earnings.

What To Know: Adobe reported quarterly earnings of $4.09 per share which beat the analyst consensus estimate of $3.98, a 20.29% increase over earnings of $3.40 per share from the same period last year. The company reported quarterly sales of $4.89 billion which beat the analyst consensus estimate of $4.87 billion, a 10.31% increase over sales of $4.43 billion the same period last year.

The company also reported cash flows from operations of $1.87 billion and repurchased roughly 2.1 million shares during the quarter.

Adobe issued fourth-quarter earnings per share guidance in a range between $4.10 and $4.15, versus the $4.06 estimate. Total revenue is anticipated to be between $4.975 billion and $5.025 billion, versus the $5 billion estimate.

"We are unleashing a new era of AI-enhanced creativity around the world with innovations across our product portfolio," said Shantanu Narayen, chair and CEO, Adobe. "The recent launches of Firefly, Express, Creative Cloud and GenStudio make Adobe magic available to millions of users."

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ADBE Price Action: Shares of ADBE were down 0.17% at $551.20 in the after-hours session at the time of publication, according to Benzinga Pro.

Image by Innova Labs from Pixabay