Adobe's Second Quarter Earnings Beat Analysts' Estimates

The company now sees its full year outlook for adjusted earnings was expected to a range of $20.50 to $20.70. That was an increase from the previous forecast of $20.20 to $20.50, better than the $20.40 average analyst estimate, according to Bloomberg. Adobe also boosted its revenue outlook to a range of $23.50 billion to $23.60 billion, from $23.30 billion to $23.55 billion. That also surpassed the $23.47 billion expected by analysts.

In the fiscal third quarter, the company forecast digital media revenue of $4.37 billion to $4.40 billion, better than the average estimate of $4.34 billion.  Total revenue could reach $5.875 billion to $5.925 billion, compared with the average estimate of $5.88 billion.

Adjusted earnings rose to $5.06 a share in the second quarter, from $4.48 a year earlier, the company said in a press release. That's higher than the average analyst estimate of $4.98, according to Bloomberg consensus. Revenue jumped 11% to $5.87 billion, beating expectations that called for $5.8 billion.