2024-06-14 07:18:17 ET
Summary
- Adobe reported strong Q2 earnings, beating estimates, and raising future guidance.
- ADBE's effective AI monetization strategy showcased strong Document Cloud growth, which will continue to accelerate.
- The Company's focus on integrating AI across its entire stack will drive steady double-digit compounding and operating leverage.
Adobe Inc. ( ADBE ) reported Q2 earnings today, which were met with euphoria after hours by the market. The enterprise software sector has broadly taken a beating in recent weeks with popular names like Salesforce ( CRM ) and UiPath ( PATH ) getting hammered after weak earnings. This dragged Adobe down while the company was navigating a recent controversy over its terms and conditions, a pending FTC investigation into cancellation policies, and general fear about the extent of AI's impact on its business. Accordingly, it's been a difficult first half of 2024 for Adobe investors....
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Adobe: Very Compelling AI Monetization In Q2 (Rating Upgrade)