Adobe beats on EPS and revenue, guides below Q3 estimates, cuts FY22 guidance
Adobe press release (NASDAQ:ADBE): Q2 Non-GAAP EPS of $3.35  beats by $0.04.
Revenue of $4.39B (+14% Y/Y)  beats by $40M.
Shares -4%.
Digital Media segment revenue was $3.20 billion, which represents 15 percent year-over-year growth or 16 percent in constant currency.
Creative revenue grew to $2.61 billion, representing 12 percent year-over-year growth or 14 percent in constant currency.
Document Cloud revenue was $595 million, representing 27 percent year-over-year growth or 28 percent in constant currency.
Net New Digital Media Annualized Recurring Revenue (âARRâ) was $464 million, exiting the quarter with Digital Media ARR of $12.95 billion.
Creative ARR grew to $10.82 billion and Document Cloud ARR grew to $2.13 billion.
Digital Experience segment revenue was $1.10 billion, representing 17 percent year-over-year growth or 18 percent in constant currency.
Digital Experience subscription revenue was $961 million, representing 18 percent year-over-year growth.
Q3 Guidance: Total revenue $4.43B vs. $4.51B consensus, Non-GAAP EPS $3.33 vs. $3.40 consensus.
FY23 Guidance: Total revenue $17.65B ($17.90 prior guidance) vs. $17.85B consensus, Non-GAAP EPS $13.50 (prior guidance of $13.70) vs. $13.67 consensus.