5 Stocks Making Big Moves After Earnings Reports

1. Adobe Inc. (NASDAQ:ADBE)

Number of Hedge Fund Holders: 89

Adobe Inc. (NASDAQ:ADBE) recently came into the limelight after announcing better-than-expected profit and sales for its fiscal third quarter ended 3 September 2021. The software giant reported adjusted earnings of $3.11 per share, up from $2.57 per share in the comparable period of 2020.

Revenue for the quarter surged 22 percent on a year-over-year basis to $3.94 billion. Analysts were expecting Adobe Inc. (NASDAQ:ADBE)  to report earnings of $3.01 per share and revenue of $3.89 billion.

If we go through the performance of key businesses, revenue from the digital media segment rose 23 percent to $2.87 billion, while creative revenue jumped 21 percent to $2.37 billion. In comparison, document cloud revenue climbed 31 percent to $493 million.

Looking forward, Adobe Inc. (NASDAQ:ADBE) expects adjusted earnings of around $3.18 per share on revenue of approx. $4.07 billion for its fiscal fourth quarter. The outlook is better than the consensus forecast of $3.08 per share for earnings and $4.04 billion for revenue.

Praising the results, CFO John Murphy said:

“We drove record revenues and strong profitability in the quarter, demonstrating our ability to succeed in a dynamic environment. Our operational rigor and data-driven insights enable us to execute while we continue to invest across massive market opportunities.”

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