2024-06-14 03:43:59 ET
Summary
- Adobe reported Q2 revenue of $5.31 billion, with a 15% year-over-year increase in non-GAAP earnings per share.
- Adobe stock jumps 15% premarket on a strong outlook.
- Concerns about AI disrupting Adobe's products.
- Adobe's growth rates are tepid, leaving little room for error at 26x next year's EPS valuation.
Investment Thesis
Adobe (ADBE) stock jumps 15% premarket as investors cheer its outlook. The bull case here is that Adobe's profit margins continue to bedazzle investors. But once the dust has settled, a lot of the bearish aspects will resurface....
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Adobe Q2 Earnings: Picture-Perfect Priced In