ADBE - Adobe Shares Surge as Revenue Climbs. Is It Too Late to Buy the Stock?
2024-06-24 08:00:00 ET
Shares of Adobe (NASDAQ: ADBE) rebounded after the maker of creative software programs such as Photoshop reported solid revenue growth for its fiscal second quarter. Despite the solid post-earnings gains, the stock is still down about 12% year to date.
Let's take a closer look at the company's most recent quarterly results and guidance and whether it is too late to buy the stock.
Adobe solidly grew its fiscal Q2 revenue by 10% to $5.31 billion topping the analyst consensus of $5.29 billion. Adjusted earnings per share (EPS), meanwhile, rose 20% to $4.48, beating analyst estimates by $0.09.
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Adobe Shares Surge as Revenue Climbs. Is It Too Late to Buy the Stock?