Adobe Systems (NASDAQ:ADBE) Fiscal Q2 Tops Estimates; Ups Fiscal 2023 Earnings Guidance

Adobe Systems  (NASDAQ:ADBE)  reported fiscal Q2 non-GAAP earnings  of $3.91 per share, up from $3.35 a year earlier.

Analysts polled by Capital IQ expected $3.79.

Revenue for the quarter ended June 2 was $4.82 billion, up from $4.39 billion a year earlier.

Analysts surveyed by Capital IQ expected $4.77 billion.

The software company said it expects fiscal Q3 non-GAAP EPS between $3.95 and $4.00 and revenue between $4.83 billion and $4.87 billion. Analysts polled by Capital IQ are expecting $3.88 and $4.86 billion, respectively.

The company also said it now expects fiscal 2023 non-GAAP EPS between $15.65 and $15.75. The previous guidance was for non-GAAP EPS between $15.30 and $15.60. Analysts surveyed by Capital IQ are expecting $15.49.

Revenue for the fiscal year is projected to be between $19.25 billion and $19.35 billion, the company said. Analysts polled by Capital IQ are looking for $19.30 billion.

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