Adobe adbe Strong Q2 Performance Delights Investors Stock Jumps over 3

Adobe (ADBE) Strong Q2 Performance Delights Investors, Stock Jumps Over 3%

Adobe Inc. (NASDAQ: ADBE) experienced a significant surge of 3.28% in after-hours trading on Thursday following the announcement of its outstanding financial results for the second quarter of fiscal year 2023.

During this period, Adobe achieved a remarkable revenue of $4.82 billion, marking an impressive 10% growth compared to the same period last year. When adjusting for currency fluctuations, the revenue growth stands at an even more impressive 13%.

The company’s earnings per share were equally impressive, with $2.82 on a GAAP basis and $3.91 on a non-GAAP basis.

In addition, Adobe reported a GAAP operating income of $1.62 billion and a non-GAAP operating income of $2.18 billion. The company’s GAAP net income reached $1.30 billion, while the non-GAAP net income amounted to $1.79 billion.

Adobe demonstrated robust financial performance with cash flows from operations reaching $2.14 billion. Furthermore, the company’s Remaining Performance Obligations (“RPO”) at the end of the quarter stood at an impressive $15.22 billion.

In addition to its strong financial performance, Adobe repurchased approximately 2.7 million shares during the quarter.