Adobe reported first quarter 2022 earnings after the close on Tuesday, the software company beat on top and bottom lines, which saw $ADBE stock quickly spike. Outlook was less than hoped for, and shares quickly turned lower by ivanbrian9 stocks trading
initially spiked on the earnings beat, trading up to $470.99, before sharply turning around once the guidance was released. Adobe reported earnings per share of $3.37, which was just ahead of the $3.34 forecast. Revenue was $4.26 billion, just marginally ahead of forecasts that were set at $4.24 billion. Adobe guided for its second quarter figure to hit $3.30 on earnings per share and revenue to hit $4.34 billion. This was short of analyst estimates for EPS of $3.35 and revenue of $4.4 billion.
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