Adobe Stock Is Rising After Company Says It's 'Better Positioned' Today Than Ever Before: The Details

Adobe Inc ADBE shares are trading higher after the close on Wednesday after the company reported better-than-expected financial results and issued strong guidance.

• Q1 Revenue: $4.66 billion beat estimates of $4.62 billion
• Q1 EPS: $3.80 beat estimates of $3.68

Adobe said first-quarter revenue increased 9% on a year-over-year basis. Cash flows from operations totaled $1.69 billion, and the company repurchased approximately 5 million shares during the quarter.

"Our strong engine of innovation combined with world-class operational rigor drove profitable growth in Q1, setting us up to deliver another strong fiscal year. Adobe is better positioned today than we've ever been to serve our customers globally," said Dan Durn, executive vice president and CFO of Adobe.

Guidance: Adobe sees second-quarter revenue in a range of $4.75 billion to $4.78 billion versus estimates of $4.76 billion. Second-quarter earnings are expected to be between $3.75 and $3.80 per share.

The software company sees full-year 2023 adjusted earnings in a range of $15.30 to $15.60 per share versus estimates of $15.31 per share.

ABDE Price Action: Adobe shares were up 4.76% after hours at $349.50 at the time of writing, according to Benzinga Pro.

Photo: Joshua Woroniecki from Pixabay.