Adobe Q2 2023 earnings on deck, what to expect
David Tran

Photoshop software owner Adobe (NASDAQ:ADBE) is scheduled to announce Q2 earnings results on Thursday, June 15th, after market close.
The consensus EPS estimate is $3.79, and the consensus revenue estimate is $4.77 billion.
Over the last 2 years, ADBE has beaten EPS estimates 100% of the time and has beaten revenue estimates 88% of the time.

Over the last 3 months, EPS estimates have seen 19 upward revisions and 4 downward. Revenue estimates have seen 15 upward revisions and 7 downward.
The company on March 15 reported Q1 Non-GAAP EPS of $3.80, ahead of estimates by 12 cents. Revenue of $4.66 billion was up 9.4% from a year ago and topped analyst expectations by at least $40 million.
ADBE has a Quant rating of "HOLD", with a 3.47 rating score.
ADBE has an industry ranking of 42 out of 207 among application software stocks, as per SA's Quant ranking.
Wall Street analysts and Seeking Alpha authors rate the ADBE stock a "BUY".

Recent Analysis: Vladimir Dimitrov, leader of the "The Roundabout Investor" Investing Group on Seeking Alpha, wrote in a recently published analysis, "The set-up for Adobe's share price remains favourable at least in the short-run. With the narrative around generative AI gaining momentum and sell-side analysts still catching-up, ADBE could continue to outperform the broader market in the coming weeks and even months. Beyond that, however, the risks for shareholders are significant. On one hand, capital allocation remains an issue and on the other the market is already pricing in a very favourable scenario for the company going forward."

Other analysis - Adobe: Positioned For Consistent Double-Digit Growth In The Future by The Beginner Investor.

Adobe: Unlocking The Potential Of Designs With AI-Driven Features by Johnny Zhang.

Recent News: The company was upgraded to "Overweight" from "Equalweight" at Wells Fargo Securities with a price target of $525 from $420. Wells Fargo analysts said the AI debate continues to drive Adobe.
Wells Fargo added that Gen AI is a tailwind to Adobe as the firm expects much of the early value to accrue to established platforms and see potential for further break-out as products are monetized.

Adobe stock rises on introducing generative AI service Sensei GenAI.
ADBE stock fell 40.4% in 2022, while the benchmark S&P 500 index slipped nearly 20% for the year.
Stock is up 42.2% so far this year as of Tuesday's close.