Adobe rises as it boosts fiscal earnings, revenue outlook after strong Q2
David Tran
Adobe (NASDAQ:ADBE) shares rose more than 3% in extended-hours trading on Thursday after the enterprise software maker boosted its fiscal outlook after it reported better-than-expected quarterly results.
For the fiscal year 2023, Adobe (ADBE) now sees adjusted earnings per share between $15.65 and $15.75 per share, up from a prior range of $15.30 to $15.60 per share.
The company also raised its full-year revenue outlook, as it now expects full-year sales to fall within a range of $19.25B to $19.35B, up from a prior range between $19.1B and $19.3B.
Adobe (ADBE) also expects full-year digital media net new annual recurring revenue to be approximately $1.75B.
For the period ending June 2, Adobe (ADBE) earned an adjusted $3.91 per share on $4.82B in revenue, topping estimates of $3.79 per share and $4.77B in revenue.
The company said its remaining performance obligations in the period were $15.22B, up 10% year-over-year. 
Looking ahead, Adobe (ADBE) expects fiscal third-quarter earnings to be between $3.95 and $4 per share, excluding one-time items, above the $3.89 per share analysts were expecting.
Quarterly sales are forecast to fall within a range of $4.83B to $4.87B, compared to the $4.86B analysts expect. Digital media for the period is forecast to fall within a range of $3.55B to $3.57B, while digital experience revenue is likely to be between $1.21B and $1.23B. 
Adobe (ADBE) is slated to host a conference call at 5 p.m. EST to discuss the results.
More on Adobe

Adobe stock rises after Wells Fargo upgrades on AI initiatives
Adobe stock rises on introducing generative AI service Sensei GenAI
Adobe data shows prices online heading down again